Trinity Capital: Dividend Yield Expands To 13.4% As SaaSpocalypse Panic Grips Markets

2026-02-26 11:23:11 ET

Trinity Capital's ( TRIN ) selloff in response to a SaaSpocalypse-driven mania offers an opportunity to build a position in an investment-grade security currently paying a covered dividend yield at a positive 935 basis points spread to the U.S. 10-year Treasury yield ( US10Y ) at 4.04%. The BDC last declared a base monthly cash dividend of $0.17 per share , the first monthly distribution, and an unchanged percentage-wise proportion from the prior distribution to provide a 13.40% dividend yield when annualized at $2.04 per share. TRIN generated fiscal 2025 fourth quarter net investment income ("NII") of $0.52 per share to provide 102% coverage of the 3-month aggregate of its dividend. In a space where the list of BDCs with near-term dividend cuts continues to grow, this level of coverage, in aggregate with net asset value expansion ("NAV") on both a nominal and per-share basis, provides legs for the bulls. Total net assets ended the fourth quarter at $1.094 billion, up 9.6% sequentially from $998 million to continue the trendline of sustained upward growth in place since TRIN started trading on NASDAQ....

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