TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Announces $0.23 Quarterly Dividend

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) declared a quarterly dividend on Friday, February 27th. Shareholders of record on Tuesday, March 17th will be given a dividend of 0.23 per share by the investment management company on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 18.0%. The ex-dividend date is Tuesday, March 17th.

TriplePoint Venture Growth BDC has decreased its dividend by an average of 0.1%per year over the last three years. TriplePoint Venture Growth BDC has a dividend payout ratio of 86.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 $0.92 annual dividend with an expected future payout ratio of 71.9%.

TriplePoint Venture Growth BDC Stock Down 1.3%

Shares of TriplePoint Venture Growth BDC stock opened at $5.11 on Friday. TriplePoint Venture Growth BDC has a twelve month low of $5.03 and a twelve month high of $7.53. The business has a 50-day moving average price of $5.90 and a 200-day moving average price of $6.04. The firm has a market cap of $206.70 million, a price-to-earnings ratio of 4.15 and a beta of 1.37.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Wednesday, March 4th. The investment management company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). TriplePoint Venture Growth BDC had a return on equity of 12.04% and a net margin of 54.12%.The firm had revenue of $3.42 million during the quarter, compared to analysts’ expectations of $23.78 million. On average, equities analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

Insider Activity at TriplePoint Venture Growth BDC

In related news, CEO James Labe bought 23,799 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was purchased at an average price of $6.66 per share, for a total transaction of $158,501.34. Following the acquisition, the chief executive officer owned 1,998,489 shares in the company, valued at $13,309,936.74. This trade represents a 1.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sajal Srivastava bought 23,799 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were bought at an average cost of $6.66 per share, for a total transaction of $158,501.34. Following the transaction, the insider owned 1,998,489 shares in the company, valued at approximately $13,309,936.74. The trade was a 1.21% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 1,079,282 shares of company stock worth $6,927,706 over the last three months. 1.46% of the stock is currently owned by insiders.

Institutional Trading of TriplePoint Venture Growth BDC

A number of institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. bought a new position in TriplePoint Venture Growth BDC during the second quarter valued at $131,000. Millennium Management LLC bought a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth about $134,000. Verition Fund Management LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 14.1% in the 3rd quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company’s stock worth $131,000 after acquiring an additional 2,800 shares during the last quarter. Oxford Asset Management LLP purchased a new position in shares of TriplePoint Venture Growth BDC during the 4th quarter worth about $74,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth about $35,000. 12.77% of the stock is currently owned by institutional investors.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.