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

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. Stockholders of record on Tuesday, September 16th will be given a dividend of 0.23 per share by the investment management company on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 14.7%. The ex-dividend date of this dividend is Tuesday, September 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. 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 Trading Up 0.9%

Shares of TPVG stock traded up $0.06 during trading hours on Monday, reaching $6.28. The stock had a trading volume of 608,794 shares, compared to its average volume of 340,037. The stock's fifty day simple moving average is $6.99 and its 200 day simple moving average is $6.99. TriplePoint Venture Growth BDC has a 12 month low of $5.53 and a 12 month high of $8.50. The firm has a market capitalization of $253.09 million, a PE ratio of 6.04 and a beta of 1.46.

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

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.