TriplePoint Venture Growth BDC Corp. (TPVG) to Issue Quarterly Dividend of $0.23 on June 30th

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) announced a quarterly dividend on Wednesday, April 29th. Stockholders 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 dividend yield of 16.5%. The ex-dividend date is Tuesday, June 16th.

TriplePoint Venture Growth BDC has decreased its dividend by an average of 0.1%annually 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 tumble. 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 Trading Up 1.2%

TriplePoint Venture Growth BDC stock opened at $5.59 on Friday. The stock has a market cap of $226.79 million, a P/E ratio of 5.27 and a beta of 1.27. The company has a fifty day simple moving average of $5.47 and a 200-day simple moving average of $5.77. TriplePoint Venture Growth BDC has a 12-month low of $4.48 and a 12-month high of $7.50.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, May 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $19.81 million for the quarter, compared to analysts’ expectations of $23.14 million. TriplePoint Venture Growth BDC had a return on equity of 11.54% and a net margin of 46.77%. As a group, sell-side analysts forecast that TriplePoint Venture Growth BDC will post 0.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TPVG. Summit Securities Group LLC increased its stake in TriplePoint Venture Growth BDC by 257.1% in the first quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 3,600 shares during the period. Advisory Services Network LLC acquired a new position in TriplePoint Venture Growth BDC in the third quarter valued at $33,000. Northwestern Mutual Wealth Management Co. acquired a new position in TriplePoint Venture Growth BDC in the second quarter valued at $35,000. Rockefeller Capital Management L.P. increased its stake in TriplePoint Venture Growth BDC by 75.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock valued at $46,000 after purchasing an additional 3,000 shares during the period. Finally, Farmers & Merchants Investments Inc. increased its stake in TriplePoint Venture Growth BDC by 221.7% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,293 shares of the investment management company’s stock valued at $67,000 after purchasing an additional 7,093 shares during the period. 12.77% of the stock is currently owned by institutional investors and hedge funds.

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.