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. Investors of record on Monday, March 17th will be given a dividend of 0.30 per share by the investment management company on Monday, March 31st. This represents a $1.20 annualized dividend and a dividend yield of 16.24%. The ex-dividend date is Monday, March 17th.

TriplePoint Venture Growth BDC has increased its dividend by an average of 0.5% per year over the last three years. TriplePoint Venture Growth BDC has a dividend payout ratio of 105.3% 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 Price Performance

Shares of TPVG stock opened at $7.39 on Friday. The firm has a market cap of $296.57 million, a P/E ratio of 35.19 and a beta of 1.90. TriplePoint Venture Growth BDC has a 1-year low of $6.44 and a 1-year high of $9.73. The firm’s 50-day simple moving average is $7.76 and its 200-day simple moving average is $7.50.

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

Analyst Upgrades and Downgrades

TPVG has been the subject of several recent research reports. Compass Point boosted their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Piper Sandler upped their price target 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, March 6th. Wells Fargo & Company upped their price target 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. Finally, StockNews.com upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.80.

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.