Trinity Capital Inc. Declares Cash Dividend of $0.60 per Share for the Third Quarter of 2022 Including Supplemental Cash Dividend of $0.15 per Share

Rhea-AI Summary

On September 15, 2022, Trinity Capital (Nasdaq: TRIN) declared a cash dividend of $0.60 per share for Q3 2022, consisting of a regular dividend of $0.45 and a supplemental dividend of $0.15. This marks a 5.3% increase from the previous quarter's dividend. The dividend will be paid from undistributed taxable income as of December 31, 2021. Key dates include a record date of September 30, 2022, and a payment date of October 14, 2022. The company's strategy aims to distribute approximately 90% to 100% of its taxable income to qualify for specific tax treatment.

Positive

• Declaration of a $0.60 cash dividend per share indicates strong financial performance.
• 5.3% increase in dividend reflects growth and shareholder value.
• Company's strategy to distribute nearly all taxable income supports investor confidence.

Negative

• None.

PHOENIX, Sept. 15, 2022 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity Capital" or the "Company"), a leading provider of diversified financial solutions to growth stage companies, today announced that on September 15, 2022, its Board of Directors declared a cash dividend of $0.60 per share with respect to the quarter ending September 30, 2022, consisting of a regular quarterly dividend of $0.45 per share and a supplemental cash dividend of $0.15 per share. This dividend represents an increase of 5.3% over the dividend declared in the prior quarter.

The Company's Board of Directors previously expressed the intent to declare a supplemental cash dividend of $0.15 per share in the fourth quarter of 2022 for a total of supplemental cash dividends equal to $0.60 per share in 2022, subject to Board of Director approval.

This supplemental dividend will be paid out of Trinity Capital's undistributed taxable income (taxable income in excess of dividends paid) as of December 31, 2021.

The following are key dates for the regular and new supplemental dividend for the quarter ending June 30, 2022:

Summary of Second Quarter 2022 Regular and Supplemental Dividend:

Declaration date	September 15, 2022
Record Date	September 30, 2022
Payment Date	October 14, 2022

The Company's objective is to distribute four quarterly dividends in an amount that approximates 90% to 100% of its taxable quarterly income or potential annual income for a particular year in order to qualify for tax treatment as a regulated investment company under the Internal Revenue Code of 1986. In addition, during any particular year, the Company may pay additional supplemental dividends, so that the Company distributes approximately all its annual taxable income in the year it was earned, or it may spill over the excess taxable income into the coming year for future dividend payments.

Dividends are paid from taxable earnings and may include a return of capital and/or capital gains. The specific tax characteristics of the dividends will be reported to stockholders on Form 1099-DIV after the end of the calendar year and in the Company's periodic reports filed with the Securities and Exchange Commission.

About Trinity Capital Inc.

Trinity Capital Inc. (Nasdaq: TRIN and TRINL), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. For more information, please visit the Company's website at www.trinitycap.com.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties, including the impact of the COVID 19 pandemic on the economy, financial markets, our business, our portfolio companies and our industry. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission ("SEC"). The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. More information on risks and other potential factors that could affect the Company's financial results, including important factors that could cause actual results to differ materially from plans, estimates or expectations included herein or on the webcast/conference call, is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed annual report on Form 10-K and subsequent SEC filings.

View original content to download multimedia:https://www.prnewswire.com/news-releases/trinity-capital-inc-declares-cash-dividend-of-0-60-per-share-for-the-third-quarter-of-2022-including-supplemental-cash-dividend-of-0-15-per-share-301625886.html

SOURCE Trinity Capital Inc.

FAQ

What is the dividend amount declared by Trinity Capital (TRIN) for Q3 2022?

Trinity Capital declared a cash dividend of $0.60 per share for Q3 2022.

When is the payment date for Trinity Capital's dividend?

The payment date for the dividend is October 14, 2022.

What are the key dates for Trinity Capital's Q3 2022 dividends?

The key dates are: Declaration Date - September 15, 2022; Record Date - September 30, 2022; Payment Date - October 14, 2022.

How does Trinity Capital determine its dividend payments?

Trinity Capital aims to distribute approximately 90% to 100% of its taxable income to qualify for tax treatment as a regulated investment company.