TriplePoint Venture Growth BDC Corp. (NYSE:tpvg) declared a quarterly dividend on Wednesday, May 10th, NASDAQ reports. Shareholders of record on Wednesday, May 31st will be given a dividend of 0.36 per share by the investment management company on Friday, June 16th. This represents a $1.44 dividend on an annualized basis and a yield of 10.75%. The ex-dividend date of this dividend is Friday, May 26th.
TriplePoint Venture Growth BDC Corp. has a payout ratio of 94.1% meaning 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 Corp. to earn $1.48 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 97.3%.
TriplePoint Venture Growth BDC Corp. (NYSE TPVG) remained flat at $13.40 on Friday. 59,236 shares of the stock were exchanged. TriplePoint Venture Growth BDC Corp. has a 52-week low of $10.25 and a 52-week high of $14.41. The company has a 50-day moving average of $13.56 and a 200 day moving average of $13.26. The company has a market capitalization of $214.41 million, a P/E ratio of 9.72 and a beta of 1.39.
TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) last issued its earnings results on Tuesday, May 9th. The investment management company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. TriplePoint Venture Growth BDC Corp. had a return on equity of 11.31% and a net margin of 47.29%. The firm had revenue of $14.30 million for the quarter, compared to the consensus estimate of $14.49 million. Equities analysts predict that TriplePoint Venture Growth BDC Corp. will post $1.53 earnings per share for the current year.
A number of analysts have recently commented on TPVG shares. ValuEngine downgraded TriplePoint Venture Growth BDC Corp. from a “strong-buy” rating to a “buy” rating in a research note 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. Finally, TheStreet raised TriplePoint Venture Growth BDC Corp. from a “c+” rating to a “b-” rating in a report on Monday, March 6th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $13.43.
In other news, President Sajal Srivastava bought 8,000 shares of TriplePoint Venture Growth BDC Corp. stock in a transaction on Wednesday, May 31st. The stock was acquired at an average price of $13.10 per share, with a total value of $104,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.31% of the stock is owned by corporate insiders.
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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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