TriplePoint Venture Growth BDC Corp (NYSE:TPVG) announced a quarterly dividend on Tuesday, March 13th, Wall Street Journal reports. Stockholders of record on Friday, March 23rd will be given a dividend of 0.36 per share by the investment management company on Friday, April 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.81%. The ex-dividend date is Thursday, March 22nd.
TriplePoint Venture Growth BDC has increased its dividend by an average of 10.4% per year over the last three years. TriplePoint Venture Growth BDC has a payout ratio of 87.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.
Shares of TriplePoint Venture Growth BDC (NYSE:TPVG) opened at $12.19 on Wednesday. The stock has a market capitalization of $208.99, a P/E ratio of 10.24, a PEG ratio of 0.83 and a beta of 1.30. TriplePoint Venture Growth BDC has a 1 year low of $11.11 and a 1 year high of $14.41.
TPVG has been the topic of a number of research reports. Compass Point upgraded TriplePoint Venture Growth BDC from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 28th. ValuEngine lowered TriplePoint Venture Growth BDC from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 16th. Zacks Investment Research raised TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Finally, Ladenburg Thalmann Financial Services assumed coverage on TriplePoint Venture Growth BDC in a research note on Tuesday, December 12th. They issued a “neutral” rating on the stock.
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About TriplePoint Venture Growth BDC
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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