TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Plans $0.40 Quarterly Dividend

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Friday, June 14th will be paid a dividend of 0.40 per share by the investment management company on Friday, June 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 17.17%. The ex-dividend date is Friday, June 14th.

TriplePoint Venture Growth BDC has increased its dividend by an average of 3.6% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. TriplePoint Venture Growth BDC has a dividend payout ratio of 106.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect TriplePoint Venture Growth BDC to earn $1.66 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 96.4%.

TriplePoint Venture Growth BDC Trading Down 1.4 %

Shares of NYSE:TPVG traded down $0.13 during midday trading on Thursday, reaching $9.32. 407,474 shares of the company were exchanged, compared to its average volume of 287,531. The business's fifty day moving average is $9.60 and its two-hundred day moving average is $10.26. TriplePoint Venture Growth BDC has a one year low of $8.88 and a one year high of $12.70. The stock has a market cap of $350.62 million, a PE ratio of -8.47 and a beta of 1.75.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last issued its earnings results on Wednesday, March 6th. The investment management company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02). TriplePoint Venture Growth BDC had a positive return on equity of 19.50% and a negative net margin of 28.96%. The company had revenue of $32.97 million for the quarter, compared to the consensus estimate of $33.38 million. As a group, sell-side analysts expect that TriplePoint Venture Growth BDC will post 1.69 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of TriplePoint Venture Growth BDC from $9.50 to $9.00 and set an "underperform" rating for the company in a research report on Thursday, March 7th. Piper Sandler reduced their target price on shares of TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday, March 7th. JMP Securities reaffirmed a "market perform" rating on shares of TriplePoint Venture Growth BDC in a research note on Thursday, March 7th. Wells Fargo & Company reduced their price target on shares of TriplePoint Venture Growth BDC from $11.00 to $9.50 and set an "equal weight" rating on the stock in a research note on Thursday, March 7th. Finally, Compass Point raised shares of TriplePoint Venture Growth BDC from a "sell" rating to a "neutral" rating and set a $8.75 target price on the stock in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $10.38.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.