TriplePoint Venture Growth BDC Corp. (TPVG) to Issue Quarterly Dividend of $0.29 on September 30th

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Wednesday, September 16th will be paid a dividend of 0.29 per share by the investment management company on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 22.4%. The ex-dividend date is Wednesday, September 16th. This is a 26.1% increase from TriplePoint Venture Growth BDC’s previous quarterly dividend of $0.23.

TriplePoint Venture Growth BDC has decreased its dividend payment by an average of 0.1%per year over the last three years. TriplePoint Venture Growth BDC has a payout ratio of 86.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect TriplePoint Venture Growth BDC to earn $0.84 per share next year, which means the company may not be able to cover its $0.92 annual dividend with an expected future payout ratio of 109.5%.

TriplePoint Venture Growth BDC Price Performance

TPVG stock traded up $0.56 during trading on Thursday, reaching $5.18. 519,342 shares of the company were exchanged, compared to its average volume of 376,142. The company has a market capitalization of $210.31 million, a price-to-earnings ratio of 4.88 and a beta of 1.28. The company has a 50-day moving average of $4.93 and a two-hundred day moving average of $5.30. TriplePoint Venture Growth BDC has a twelve month low of $4.39 and a twelve month high of $6.95.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Wednesday, August 5th. The investment management company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 11.54% and a net margin of 46.77%.The company had revenue of $24.48 million for the quarter, compared to the consensus estimate of $22.88 million. On average, analysts forecast that TriplePoint Venture Growth BDC will post 0.95 EPS for the current year.

Wall Street Analyst Weigh In

TPVG has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lowered their target price on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating for the company in a report on Thursday. Weiss Ratings reissued a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research note on Tuesday, June 9th. Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Piper Sandler dropped their price objective on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Monday, July 13th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, TriplePoint Venture Growth BDC presently has an average rating of “Reduce” and an average price target of $5.25.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.