Business
Trinity Capital Inc. Declares Cash Dividend of $0.53 per Share for the Second Quarter of 2023, Including a Supplemental Cash Dividend of $0.05 per Share
PHOENIX, June 15, 2023 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity Capital" or the "Company"), a leading provider of diversified financial
About this update from Trinity Capital Inc.
[{"type":"text","content":"PHOENIX, June 15, 2023 /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 June 14, 2023, its Board of Directors declared a cash dividend of $0.53 per share with respect to the quarter ending June 30, 2023, consisting of a regular quarterly dividend of $0.48 per share and a supplemental cash dividend of $0.05 per share. The dividend represents an increase of 2.1% over the regular dividend declared in the prior quarter.\n\n \n \n \n \n \n \n\n \nThe Company's Board of Directors has authorized the supplemental cash dividend in order to comply with regulated investment company tax requirements for distributing its undistributed taxable income from fiscal 2023. \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, 2022.\nThe following are key dates for the regular and new supplemental dividend for the quarter ending June 30, 2023:\nSummary of Second Quarter 2023 Regular and Supplemental Dividend:\nDeclaration date\nJune 14, 2023\nRecord Date\nJune 30, 2023\nPayment Date\nJuly 14, 2023\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 Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage compa...