Triplepoint Venture Growth BDC Corp (NYSE:TPVG) declared a special dividend on Friday, December 7th, Wall Street Journal reports. Investors of record on Thursday, December 20th will be paid a dividend of 0.10 per share by the investment management company on Friday, December 28th. This represents a dividend yield of 11.83%. The ex-dividend date is Wednesday, December 19th.
Triplepoint Venture Growth BDC has raised its dividend payment by an average of 10.4% annually over the last three years. Triplepoint Venture Growth BDC has a payout ratio of 82.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Triplepoint Venture Growth BDC to earn $1.61 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 89.4%.
Shares of Triplepoint Venture Growth BDC stock traded up $0.06 during trading on Friday, hitting $12.17. 130,867 shares of the company’s stock were exchanged, compared to its average volume of 146,362. Triplepoint Venture Growth BDC has a 52-week low of $11.11 and a 52-week high of $13.95. The stock has a market cap of $296.97 million, a PE ratio of 7.54, a price-to-earnings-growth ratio of 2.44 and a beta of 1.19.
Triplepoint Venture Growth BDC (NYSE:TPVG) last issued its earnings results on Wednesday, October 31st. The investment management company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.04. Triplepoint Venture Growth BDC had a net margin of 53.66% and a return on equity of 11.43%. The firm had revenue of $17.68 million during the quarter, compared to analysts’ expectations of $15.47 million. On average, analysts predict that Triplepoint Venture Growth BDC will post 1.64 earnings per share for the current fiscal year.
Several research analysts recently issued reports on TPVG shares. Zacks Investment Research raised shares of Triplepoint Venture Growth BDC from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Saturday, November 3rd. ValuEngine cut shares of Triplepoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Compass Point set a $14.00 price objective on shares of Triplepoint Venture Growth BDC and gave the company a “buy” rating in a report on Monday, August 13th. Finally, Wells Fargo & Co initiated coverage on shares of Triplepoint Venture Growth BDC in a report on Thursday, September 20th. They issued an “outperform” rating and a $14.25 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $14.06.
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About Triplepoint Venture Growth BDC
TriplePoint Venture Growth BDC Corp is a business development company specializing investments in growth stage. It also provides debt financing to venture growth space companies which includes growth capital loans, equipment financings, revolving loans, and direct equity investments. The fund seeks to invest in e-commerce, entertainment, technology and life sciences sector.
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