TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) to Issue Dividend Increase – $0.29 Per Share

TriplePoint Venture Growth BDC Corp. (NYSE:TPVGGet Free Report) declared a quarterly dividend on Tuesday, August 4th. Stockholders 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 of this dividend 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. Equities 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 Stock Up 12.1%

NYSE:TPVG traded up $0.56 during trading hours on Thursday, hitting $5.18. 508,735 shares of the company traded hands, compared to its average volume of 375,840. The firm’s 50-day simple moving average is $4.93 and its 200-day simple moving average is $5.30. TriplePoint Venture Growth BDC has a one year low of $4.39 and a one year high of $6.95. The company has a market cap of $210.31 million, a PE ratio of 4.89 and a beta of 1.28.

TriplePoint Venture Growth BDC (NYSE:TPVGGet Free Report) last announced its earnings results on Wednesday, August 5th. The investment management company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.03). TriplePoint Venture Growth BDC had a net margin of 46.77% and a return on equity of 11.54%. The business had revenue of $24.48 million for the quarter, compared to analysts’ expectations of $22.88 million. As a group, equities research analysts expect that TriplePoint Venture Growth BDC will post 0.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TPVG shares. Zacks Research upgraded TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Keefe, Bruyette & Woods cut 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 research note on Thursday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a report on Tuesday, June 9th. Finally, Piper Sandler decreased their price target on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Monday, July 13th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $5.25.

View Our Latest Stock Analysis on TPVG

About TriplePoint Venture Growth BDC

(Get Free Report)

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.

See Also

Dividend History for TriplePoint Venture Growth BDC (NYSE:TPVG)

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