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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 ?

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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.