Business
Trinity Capital Inc. Declares Cash Dividend of $0.57 per Share for the Second Quarter of 2022 including Supplemental Cash Dividend of $0.15 per Share
PHOENIX, June 16, 2022 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity Capital" or the "Company"), a leading provider of debt and equipment
About this update from Trinity Capital Inc.
[{"type":"text","content":"PHOENIX, June 16, 2022 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) (\"Trinity Capital\" or the \"Company\"), a leading provider of debt and equipment financing to venture capital backed growth stage companies, today announced that on June 15, 2022, its Board of Directors declared a cash dividend of $0.57 per share with respect to the quarter ending June 30, 2022, consisting of a regular quarterly dividend of $0.42 per share and a supplemental cash dividend of $0.15 per share. The $0.02 increase in the regular dividend represents an increase of 5.0% over the regular dividend declared in the prior quarter.\nThe Company's Board of Directors previously expressed the intent to declare equal special dividends of $0.15 per share in the third and fourth quarters of 2022 for a total of special dividends equal to $0.60 per share in 2022, subject to Board of Director approval each quarter.\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 June 30, 2022:\nSummary of Second Quarter 2022 Regular and Supplemental Dividend:Declaration date\nJune 15, 2022\nRecord Date \nJune 30, 2022\nPayment Date\nJuly 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.Trinity Capital (Nasdaq: TRIN), an internally managed specialty lending company that...