TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) to Issue Quarterly Dividend of $0.36
TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) declared a quarterly dividend on Thursday, August 10th, Wall Street Journal reports. Investors of record on Thursday, August 31st will be paid a dividend of 0.36 per share by the investment management company on Friday, September 15th. This represents a $1.44 annualized dividend and a dividend yield of 10.58%. The ex-dividend date is Tuesday, August 29th.
TriplePoint Venture Growth BDC Corp. has a payout ratio of 94.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect TriplePoint Venture Growth BDC Corp. to earn $1.53 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 94.1%.
TriplePoint Venture Growth BDC Corp. (NYSE TPVG) traded down 0.87% during mid-day trading on Thursday, reaching $13.61. 152,803 shares of the company’s stock traded hands. The company has a 50-day moving average of $13.12 and a 200-day moving average of $13.44. TriplePoint Venture Growth BDC Corp. has a 52-week low of $10.25 and a 52-week high of $14.41.
TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) last released its earnings results on Tuesday, August 8th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.23. TriplePoint Venture Growth BDC Corp. had a net margin of 56.60% and a return on equity of 13.08%. The company had revenue of $15.68 million during the quarter, compared to the consensus estimate of $11.49 million. Analysts predict that TriplePoint Venture Growth BDC Corp. will post $1.53 EPS for the current year.
In related news, President Sajal Srivastava bought 8,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was bought at an average price of $13.10 per share, for a total transaction of $104,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.31% of the stock is owned by corporate insiders.
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A number of equities research analysts have issued reports on TPVG shares. Zacks Investment Research downgraded shares of TriplePoint Venture Growth BDC Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, May 4th. ValuEngine downgraded shares of TriplePoint Venture Growth BDC Corp. from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 23rd.
TriplePoint Venture Growth BDC Corp. Company Profile
TriplePoint Venture Growth BDC Corp. is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries, which are backed by TriplePoint Capital LLC’s (TPC) select group of venture capital investors.
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