TriplePoint Venture Growth BDC Corp. (TPVG) to Issue Quarterly Dividend of $0.30 on December 27th

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Shareholders of record on Friday, December 13th will be given a dividend of 0.30 per share by the investment management company on Friday, December 27th. This represents a $1.20 annualized dividend and a yield of 15.60%. The ex-dividend date is Friday, December 13th.

TriplePoint Venture Growth BDC has increased its dividend by an average of 3.6% annually over the last three years. TriplePoint Venture Growth BDC has a payout ratio of 93.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect TriplePoint Venture Growth BDC to earn $1.30 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 92.3%.

TriplePoint Venture Growth BDC Stock Performance

Shares of TriplePoint Venture Growth BDC stock traded up $0.15 during trading hours on Friday, reaching $7.69. The company’s stock had a trading volume of 46,237 shares, compared to its average volume of 360,075. TriplePoint Venture Growth BDC has a one year low of $6.44 and a one year high of $11.58. The company’s 50 day simple moving average is $6.99 and its 200 day simple moving average is $8.07. The stock has a market cap of $307.22 million, a P/E ratio of 35.98 and a beta of 1.80.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). TriplePoint Venture Growth BDC had a return on equity of 17.07% and a net margin of 9.01%. The company had revenue of $27.11 million for the quarter, compared to analyst estimates of $28.77 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. On average, sell-side analysts predict that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

Insider Transactions at TriplePoint Venture Growth BDC

In other TriplePoint Venture Growth BDC news, President Sajal Srivastava bought 11,298 shares of TriplePoint Venture Growth BDC stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $7.02 per share, for a total transaction of $79,311.96. Following the completion of the purchase, the president now directly owns 250,858 shares of the company’s stock, valued at $1,761,023.16. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TPVG shares. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and lowered their target price for the company from $8.00 to $7.50 in a research report on Thursday. LADENBURG THALM/SH SH lowered TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and lowered their price target for the company from $8.50 to $8.00 in a report on Friday, August 9th. Wells Fargo & Company cut their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Finally, Piper Sandler decreased their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.65.

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.