TriplePoint Venture Growth BDC Corp. Plans Quarterly Dividend of $0.23 (NYSE:TPVG)

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) announced a quarterly dividend on Friday, February 27th. Shareholders of record on Tuesday, March 17th will be paid a dividend of 0.23 per share by the investment management company on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 18.0%. The ex-dividend date of this dividend is Tuesday, March 17th.

TriplePoint Venture Growth BDC has decreased its dividend payment by an average of 0.1%annually over the last three years. TriplePoint Venture Growth BDC has a dividend 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 tumble. Research analysts expect TriplePoint Venture Growth BDC to earn $1.28 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 71.9%.

TriplePoint Venture Growth BDC Trading Down 1.3%

TPVG opened at $5.11 on Friday. The firm’s 50 day simple moving average is $5.90 and its two-hundred day simple moving average is $6.04. The company has a market capitalization of $206.70 million, a PE ratio of 4.15 and a beta of 1.37. TriplePoint Venture Growth BDC has a 1-year low of $5.03 and a 1-year high of $7.53.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, March 4th. The investment management company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $3.42 million for the quarter, compared to the consensus estimate of $23.78 million. TriplePoint Venture Growth BDC had a net margin of 54.12% and a return on equity of 12.04%. Equities analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wall Street Zen upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Keefe, Bruyette & Woods lowered their price objective on TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a research report on Thursday, March 5th. Wells Fargo & Company cut their price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, March 5th. Finally, Weiss Ratings lowered shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, TriplePoint Venture Growth BDC currently has an average rating of “Reduce” and an average price target of $6.05.

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.