TriplePoint Venture Growth BDC Corp. (TPVG) To Go Ex-Dividend on June 16th

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) announced a quarterly dividend on Wednesday, April 29th. Investors of record on Tuesday, June 16th will be given a dividend of 0.23 per share by the investment management company on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 16.5%. The ex-dividend date of this dividend is Tuesday, June 16th.

TriplePoint Venture Growth BDC has decreased its dividend payment 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% meaning 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 to earn $0.84 per share next year, which means the company may not be able to cover its $0.92 annual dividend with an expected future payout ratio of 109.5%.

TriplePoint Venture Growth BDC Stock Up 1.2%

TPVG stock opened at $5.59 on Friday. The company has a market capitalization of $226.79 million, a P/E ratio of 5.27 and a beta of 1.27. The company has a 50-day simple moving average of $5.47 and a 200 day simple moving average of $5.77. TriplePoint Venture Growth BDC has a fifty-two week low of $4.48 and a fifty-two week high of $7.50.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, May 6th. The investment management company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $19.81 million during the quarter, compared to analyst estimates of $23.14 million. TriplePoint Venture Growth BDC had a return on equity of 11.54% and a net margin of 46.77%. Equities analysts anticipate that TriplePoint Venture Growth BDC will post 0.95 EPS for the current year.

Institutional Trading of TriplePoint Venture Growth BDC

Institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC raised its holdings in TriplePoint Venture Growth BDC by 257.1% during the 1st quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock worth $25,000 after buying an additional 3,600 shares during the period. Advisory Services Network LLC acquired a new stake in TriplePoint Venture Growth BDC during the 3rd quarter worth about $33,000. Northwestern Mutual Wealth Management Co. acquired a new stake in TriplePoint Venture Growth BDC during the 2nd quarter worth about $35,000. Rockefeller Capital Management L.P. raised its holdings in TriplePoint Venture Growth BDC by 75.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock worth $46,000 after buying an additional 3,000 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its holdings in TriplePoint Venture Growth BDC by 221.7% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,293 shares of the investment management company’s stock worth $67,000 after buying an additional 7,093 shares during the period. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.