Business
Trinity Capital Inc. Declares Cash Dividend of $0.40 per Share for the First Quarter of 2022 and New Supplemental Cash Dividend of $0.15 per Share
PHOENIX, March 17, 2022 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity Capital" or the "Company"), a leading specialty lending company that
About this update from Trinity Capital Inc.
[{"type":"text","content":"PHOENIX, March 17, 2022 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) (\"Trinity Capital\" or the \"Company\"), a leading specialty lending company that provides debt, including loans and equipment financing, to growth stage companies backed by technology banks, venture capital and private equity firms, today announced that on March 15, 2022, its Board of Directors declared a regular cash dividend of $0.40 per share with respect to the quarter ending March 31, 2022. This dividend represents an increase of 11.1% over the dividend declared in the prior quarter.\n\n \n \n \n \n \n \n\n \nIn addition to the regular quarterly dividend, the Board of Directors declared a new supplemental cash dividend of $0.15 per share in the first quarter, with the intent to declare equal special dividends in the second, third and fourth quarters of 2022 for a total of $0.60 per share in 2022, subject to future Board of Director approval.\nThis 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.\nThe following are key dates for the regular and new supplemental dividend for the quarter ending March 31, 2022:\nSummary of First Quarter 2022 Regular and Supplemental Dividends: \nDeclaration date\nMarch 15, 2022\nRecord Date\nMarch 31, 2022\nPayment Date\nApril 15, 2022\nThe 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.\nDividends 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.\nAbout Trinity Capital Inc. \nTrinity Capital (Nasdaq: TRIN), an int...