TriplePoint Venture Growth BDC Corp. Plans Quarterly Dividend of $0.30 (NYSE:TPVG)

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Friday, December 13th will be paid 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 dividend yield of 15.25%. The ex-dividend date of this dividend is Friday, December 13th.

TriplePoint Venture Growth BDC has increased its dividend payment by an average of 3.6% per year over the last three years. TriplePoint Venture Growth BDC has a payout ratio of 93.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. 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 Up 4.4 %

Shares of TPVG stock traded up $0.33 on Friday, hitting $7.87. The company had a trading volume of 494,178 shares, compared to its average volume of 362,139. TriplePoint Venture Growth BDC has a twelve month low of $6.44 and a twelve month high of $11.58. The firm has a market cap of $314.43 million, a P/E ratio of 37.48 and a beta of 1.80. The company has a 50-day moving average price of $6.99 and a 200-day moving average price of $8.07.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.10). The company had revenue of $27.11 million for the quarter, compared to analyst estimates of $28.77 million. TriplePoint Venture Growth BDC had a return on equity of 17.07% and a net margin of 9.01%. During the same quarter last year, the company earned $0.53 EPS. Equities research analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, President Sajal Srivastava acquired 11,298 shares of the firm's stock in a transaction on Monday, August 12th. The stock was bought at an average price 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 approximately $1,761,023.16. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.01% of the stock is owned by corporate insiders.

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.