TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) to Issue $0.23 Quarterly Dividend

Key Points

• TriplePoint Venture Growth BDC Corp. has declared a quarterly dividend of $0.23 per share, with the dividend set to be paid on September 30th to investors of record on September 16th.
• The company currently has a payout ratio of 112.1%, indicating it is relying on its balance sheet to cover dividend payments, as it cannot entirely support these payments through earnings.
• Following a recent drop, TPVG's stock is trading at $6.34, down 8.1%, and the company reported earnings of $0.28 per share, missing analysts' expectations.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) declared a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Investors of record on Tuesday, September 16th will be paid a dividend of 0.23 per share by the investment management company on Tuesday, September 30th. This represents a c) annualized dividend and a yield of 14.5%. The ex-dividend date of this dividend is Tuesday, September 16th.

TriplePoint Venture Growth BDC has a payout ratio of 112.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Down 8.1%

Shares of TPVG stock traded down $0.56 on Thursday, hitting $6.34. The company had a trading volume of 1,494,773 shares, compared to its average volume of 295,457. The firm has a market cap of $255.22 million, a P/E ratio of 6.82 and a beta of 1.46. TriplePoint Venture Growth BDC has a twelve month low of $5.53 and a twelve month high of $8.50. The company has a 50-day moving average price of $7.03 and a 200-day moving average price of $7.03.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The investment management company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.02). TriplePoint Venture Growth BDC had a return on equity of 14.12% and a net margin of 36.10%. The firm had revenue of $23.28 million during the quarter, compared to analyst estimates of $23.75 million. Equities research analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

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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