Trinity Capital Declares $0.51 Quarterly Dividend, Shifts to Monthly Payments in 2026
Trinity Capital Inc. (Nasdaq: TRIN), a business development company focused on venture debt, announced a $0.51 per share distribution for the fourth quarter of 2025. Starting January 2026, the company will transition to monthly dividend payments.
Trinity Capital Inc. (Nasdaq: TRIN), a business development company specializing in venture debt and equipment financing, declared a fourth quarter 2025 distribution of $0.51 per share. The dividend marks the company's 24th consecutive consistent or increased regular distribution, extending a track record that now spans six years. Read more dividend announcements.
Starting in January 2026, Trinity Capital will shift from quarterly to monthly dividend payments. The company said its first quarter 2026 distributions will total $0.51 per share across the three monthly payments.
The fourth quarter dividend represents an annualized yield of 13.9% based on the December 31, 2025 closing stock price of $14.65 per share. Net investment income of $0.52 per share covered the distribution at 102%.
Key Dividend Details
| Item | Details |
|---|---|
| Amount | $0.51 per share |
| Record Date | Not specified |
| Ex-Dividend Date | Not specified |
| Payment Date | Not specified |
| Frequency | Quarterly (transitioning to monthly in Q1 2026) |
Fourth Quarter Financial Performance
Trinity Capital reported total investment income of $83.2 million for the fourth quarter, up 17.5% year-over-year. Net investment income reached $39.9 million, or $0.52 per share, reflecting 15.4% growth compared to the same period in 2024.
The company posted a return on average equity of 15.3% and a return on average assets of 6.7% for the quarter. Net asset value stood at $1.1 billion, or $13.42 per share, representing a 32.9% increase year-over-year.
Trinity Capital originated $543.1 million in gross investment commitments during the quarter and funded $434.8 million in new investments. The funded amount included $170.7 million to five new portfolio companies and $264.0 million to 25 existing borrowers.
Investment exits and repayments totaled $218.8 million, comprised of $64.4 million from scheduled debt payments, $96.3 million from early repayments and refinancings, $47.2 million from sales to multi-sector holdings, and $10.9 million from warrant and equity sales.
Full Year 2025 Results
For the full year, total investment income reached $293.7 million, up 23.5% from 2024. Net investment income totaled $144.1 million, or $2.08 per share. The company funded $1.5 billion in gross investments, a 21.3% increase year-over-year.
Trinity Capital grew its net investment portfolio at cost by $636.7 million, a 36.2% increase from the prior year. Total platform assets under management reached $2.8 billion, up 38.2% year-over-year.
The company reported undistributed earnings spillover of $68.7 million, or $0.84 per share, as of December 31, 2025. CEO Kyle Brown attributed the results to "the consistency of our disciplined underwriting approach and the scalability of our platform."
As of quarter-end, Trinity Capital held total debt investments at cost of $2.2 billion and total investments at cost of $2.4 billion. The effective yield on the portfolio was 15.2%, while the core yield stood at 13.5%.