- Pays: quarterly — a $0.40 base plus supplementals (currently $0.07 per quarter, for a $0.47 total in Q2 2026).
- Paying since: 2005, every quarter.
- The base: raised from $0.39 to $0.40 in August 2023 and held there since. Supplementals ran $0.08/quarter through 2023-24; a fresh $0.28 supplemental, paid $0.07 a quarter over four quarters, was declared in February 2026.
- What it is: an internally managed specialty lender making senior secured venture-growth loans to VC- and PE-backed technology and life-sciences companies.
- The foundation: NAV per share rising — $11.66 (end 2024) → $12.13 (end 2025) → $12.15 (mid-2026). The opposite of the BDCs that cut.
- Coverage (quarter ended June 30, 2026): NII $0.50 per share vs $0.47 in distributions — about 106% covered, and 125% of the $0.40 base. Non-accruals 0.1% of the portfolio at fair value (0.3% at cost, two positions); PIK ~8.3% of investment income; GAAP leverage ~1.04x; NAV $12.15, up from $11.90.
Hercules runs a 'variable distribution policy' targeting 90-100% of taxable income, so supplementals flex with earnings and aren't guaranteed — the $0.40 base is the planning number. Internally managed: no external adviser fees.
HTGC pays quarterly. Each point below is one dividend since 2005; the recent points include supplementals on top of the base.
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Each point is one payment; the line ends at the most recent payout. The table below totals them by year.
- Trailing 12 months: $1.88 per share across 4 payments — up 4% from $1.81 in the 12 months before. What a change like that does to your income →
- Current pace: recent payments annualize to $1.88 — 0% above the trailing figure. When those two disagree, the trailing yield is quoting the past. Live cut & raise board →
- Share price, same 12 months: down 8% (dividends excluded) — income and principal are one story. Erosion Index →
- Record: 85 payments over 21 years; the largest single payment was $0.51 (Nov 2022).
- Payment drops ≥20% below trend, last 24 months: none. Get one short email if that changes →
Every figure above is computed from HTGC's actual payment record and share-price history as of the date shown — not copied from a fact sheet. Recomputed regularly; the chart above always shows the live data.
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| Recent Ex-Dividend Dates | Dividend / Share |
|---|
"Next expected" is estimated from HTGC's recent payment rhythm — the fund announces exact dates shortly before each payout, and the data feed can lag a few days. You must own shares before the ex-dividend date to receive that payout; the cash typically arrives days later. See every fund's upcoming date on the live dividend calendar.
A real total-return estimate, assuming every payout was reinvested — including what happened to the share price. Before taxes and fees. Past performance does not predict the future.
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These are assumptions, not a prediction. Want the full chart and tax options? Open the full calculator →
The BDC sector's 2026 cut wave (PSEC, PFLT, OBDC, HRZN) makes HTGC's record stand out: a base dividend that has only moved up, supplementals layered on when earnings allow, and a net asset value that grew while peers' shrank. Venture lending is a riskier niche than middle-market loans on paper — the difference has been execution and internal management.
The honest read splits the two layers: count the $0.40 base as the dividend, treat the supplementals as a bonus. Compare HTGC against MAIN and CSWC — the other internally managed stalwarts — on the compare tool.
| Year | Total Dividends / Share | Payments | Change vs Prior Year |
|---|
Data source: Yahoo Finance. Figures are per share; the current year may be partial and figures should be verified against official sources.
Calculated from complete calendar years in the data above. Past results don't guarantee future payments.
When Is HTGC's Next Ex-Dividend Date?
HTGC pays quarterly. The exact date of each payout is announced by the fund only shortly beforehand, so no site can promise the next date — but the live schedule box above shows the most recent ex-dividend date and the expected window for the next one, computed from HTGC's actual payment rhythm. Remember: you must own shares before the ex-dividend date to receive that payout.
Two Decades of Quarterly Checks
Hercules Capital has paid every quarter since its 2005 IPO. The modern record is a $0.40 base dividend (since August 2023) with supplemental distributions stacked on top whenever taxable income allows — $0.08 a quarter through 2023-24, and $0.07 a quarter through 2026 under the supplemental declared in February. The chart above shows every payment; the recent points are base plus supplemental.
Venture Debt, Done Conservatively
Lending to venture-backed companies sounds like the riskiest corner of private credit, and in the wrong hands it is. Hercules' edge has been structure — senior secured loans with warrants, to companies backed by committed investors — plus internal management that keeps fee drag low. The rising NAV is the scorecard: it means the dividends have been earned, not borrowed from the book.
Where HTGC Fits
As one of the steadiest BDC income records available, with the explicit caveat that supplementals flex. For monthly cadence with a similar no-cut ethos, see MAIN and CSWC. Next expected date on the live calendar.
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Yield traps, coverage, and the difference between paid-to-wait and paid-to-shrink — in plain English.
Read: How to Choose Dividend Stocks