TriplePoint Venture Growth BDC Corp. (TPVG) to Issue Quarterly Dividend of $0.30 on March 31st

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) announced a quarterly dividend on Wednesday, March 5th, Wall Street Journal reports. Stockholders of record on Monday, March 17th will be paid a dividend of 0.30 per share by the investment management company on Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.35%. The ex-dividend date is Monday, March 17th.

TriplePoint Venture Growth BDC has a payout ratio of 106.2% 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 Stock Down 5.3 %

TPVG opened at $7.34 on Friday. The stock has a fifty day moving average of $7.77 and a 200-day moving average of $7.51. The firm has a market capitalization of $293.96 million, a P/E ratio of 34.95 and a beta of 1.88. TriplePoint Venture Growth BDC has a 12-month low of $6.44 and a 12-month high of $10.09.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, March 5th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The firm had revenue of $25.75 million for the quarter, compared to analysts’ expectations of $26.68 million. On average, analysts expect that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on TPVG shares. Wells Fargo & Company increased their target price on shares of TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an “equal weight” rating in a research report on Tuesday, November 19th. Compass Point increased their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. StockNews.com raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods raised shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and lowered their target price for the stock from $8.00 to $7.50 in a research report on Thursday, November 7th. Finally, Piper Sandler increased their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.80.

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.