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

Key Points

• TriplePoint Venture Growth BDC Corp. declared a quarterly dividend of $0.23 per share, which will be paid on December 30th to investors of record on December 16th, representing a yield of 17.1%.
• The company has a high payout ratio of 112.1%, indicating reliance on its balance sheet for dividend payments, though analysts anticipate a future payout ratio of 93.8% which should sustain its dividends.
• Analysts have mixed ratings on the stock, with the average rating at "Reduce" and a price target of $6.25, following recent adjustments from various research firms.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) declared a quarterly dividend on Tuesday, October 14th. Investors of record on Tuesday, December 16th will be paid a dividend of 0.23 per share by the investment management company on Tuesday, December 30th. This represents a c) annualized dividend and a yield of 17.1%. The ex-dividend date of this dividend is Tuesday, December 16th.

TriplePoint Venture Growth BDC has a payout ratio of 112.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 $1.20 annual dividend with an expected future payout ratio of 93.8%.

TriplePoint Venture Growth BDC Trading Up 0.8%

TriplePoint Venture Growth BDC stock opened at $5.39 on Wednesday. The stock has a 50 day moving average of $6.21 and a two-hundred day moving average of $6.52. TriplePoint Venture Growth BDC has a twelve month low of $5.24 and a twelve month high of $8.50. The stock has a market capitalization of $217.14 million, a price-to-earnings ratio of 5.18 and a beta of 1.47.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The investment management company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). TriplePoint Venture Growth BDC had a return on equity of 13.78% and a net margin of 42.16%.The company had revenue of $23.28 million for the quarter, compared to analysts' expectations of $23.75 million. Equities analysts predict that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of TriplePoint Venture Growth BDC in a report on Wednesday, October 8th. UBS Group reduced their price target on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a "neutral" rating for the company in a research report on Tuesday. Piper Sandler lowered their price target on TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, October 9th. Finally, Zacks Research raised TriplePoint Venture Growth BDC from a "strong sell" rating to a "hold" rating in a report on Tuesday, October 7th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, TriplePoint Venture Growth BDC currently has an average rating of "Reduce" and an average price target of $6.25.

About TriplePoint Venture Growth BDC

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.

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