TriplePoint Venture Growth BDC Corp. (TPVG) To Go Ex-Dividend on August 29th
TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) announced a quarterly dividend on Thursday, August 10th, Wall Street Journal reports. Shareholders of record on Thursday, August 31st will be paid a dividend of 0.36 per share by the investment management company on Friday, September 15th. This represents a $1.44 dividend on an annualized basis and a yield of 10.37%. The ex-dividend date of this dividend is Tuesday, August 29th.
TriplePoint Venture Growth BDC Corp. has a dividend payout ratio of 85.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect TriplePoint Venture Growth BDC Corp. to earn $1.51 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 95.4%.
Shares of TriplePoint Venture Growth BDC Corp. (NYSE TPVG) opened at 13.88 on Thursday. The firm’s 50-day moving average is $13.27 and its 200-day moving average is $13.49. TriplePoint Venture Growth BDC Corp. has a one year low of $10.25 and a one year high of $14.41.
TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) last released its quarterly earnings results on Tuesday, August 8th. The investment management company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.23. TriplePoint Venture Growth BDC Corp. had a return on equity of 13.05% and a net margin of 56.60%. The firm had revenue of $15.68 million for the quarter, compared to analysts’ expectations of $11.49 million. Analysts anticipate that TriplePoint Venture Growth BDC Corp. will post $1.69 earnings per share for the current year.
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A number of equities analysts recently weighed in on TPVG shares. ValuEngine cut TriplePoint Venture Growth BDC Corp. from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 23rd. Zacks Investment Research cut TriplePoint Venture Growth BDC Corp. from a “buy” rating to a “hold” rating in a report on Thursday, May 4th.
In other news, President Sajal Srivastava acquired 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were bought at an average cost of $13.10 per share, with a total value of $104,800.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.31% of the company’s stock.
About TriplePoint Venture Growth BDC Corp.
TriplePoint Venture Growth BDC Corp. is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries, which are backed by TriplePoint Capital LLC’s (TPC) select group of venture capital investors.
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