TICC is one of the worst performers in the BDC sector.
Weighted average yield on the portfolio has been declining for over a year.
The company used to be quite adept at trading the portfolio but seems it has lost its touch. Net realized losses for the last 7 quarters.
Leveraged to the gills.
NII not covering the quarterly dividend.
Management changed the accounting policy last quarter on its CLO holdings but it doesn't matter. The investment portfolio is loaded with low-yielding junk.
There are many good reasons why the stock trades at such a steep discount to NAV.
who has the better dividend Potential? KCAP at a current 13.65% yield or TICC at 16.5%?
Why was the TICC div cut and the increased the next qtr?
With a div of .29 and cash distributable of .34(net of the .04 one time) and stable credit quality, why is TICC trading at a 16.5% yield and a 20% discount to NAV?
I really don't get it. They could cut the div 25% and still yield over 12%. Cash available seems adequate to continue to pay the div however. If loans don't default it would seem to me that while it may take some time that ultimately this will trade significantly higher and we receive 16.5% to hold on and wait.
What am I missing? Really, I would appreciate comments
I don't understand?? Stock is paying 15% with its dividends, however investors buy Netflix that doesn't give any money back? What good is it to buy future earnings of a stock if they don't give it to the stock holders? In this case its just gambling not investing, trying to get it low and sell high!
They have addressed some of the analysts issues but not all.
I don't see much upside for TICC. It will probably start a new range from $6.70 to $6.95 and the go down ex dividend. This is a high risk investment, too many fees, risky CLO obligations which may go way down in value and too much debt. Bad recipe. I should have seen this especially after...
and people always telling me theres no such thing as a dum question. lol cabt make this stuff up lol.
NOTE 13. On December 18, 2014, our board of directors authorized a repurchase program to be in place until the earlier of June 30, 2015 or until $50 million of our outstanding shares of common stock have been repurchased. Under the repurchase program, we may, but we are not obligated to, repurchase our outstanding common stock in the open market from time to time provided that we comply with the prohibitions under our Insider Trading Policies and Procedures and the guidelines specified in Rule 10b-18 of the Securities Exchange Act of 1934, as amended, including certain price, market volume and timing constraints. In addition, any
repurchases will be conducted in accordance with the 1940 Act. During the quarter ended March 31, 2015, we repurchased 315,783 shares at the weighted average price of approximately $7.56 per share, inclusive of commissions. This represents a discount of approximately 13.34% of the net asset value per share at March 31, 2015. The total dollar amount of shares repurchased in this period is approximately $2.4 million, leaving a maximum of approximately $46.4 million available for future program purchases.
Agree, the dividend has returned to the previous number after paying .27 last time. The company has done the right thing in adjusting the way they account for things in its portfolio. There is no cooking going on here, other than the shorts boiling right now.