THL Credit : Price Up
UPDATE: At 12: 30 EST THL Credit’s (TCRD) stock price is up over 4% on the day to over $9.60 a share.
Just a few days ago, TCRD dipped just under $9.0 a share in anticipation of a universally expected dividend cut.
Now the dividend has been reduced to $0.27 from $0.34 investors are rushing back in. Volume is huge
“Markets hate uncertainty”. How many times a day does one hear that ?
The BDC Reporter has already commented on the latest earnings and the new dividend.
Earnings Per Share are headed downward thanks to several non-accruals but mostly due to a shift in strategy.
Investors don’t seem to mind.
We added TCRD to our BDC Investment Ideas List some time ago.
However, our minimum Buy Price to achieve a 10% annual return over 5 years is lower than today’s level.
How much lower ? Look out for our upcoming article in Ideas.