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TriplePoint Venture Growth BDC Corp. (TPVG)
NYSE - NYSE Delayed Price. Currency in USD
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This has been one of my best investments since COVID
How they pay $45M dividends annualy if they make only $35M in revenue?
Earned Net Investment Income of $11.1 million, or $0.45 Per Share, During the Fourth Quarter
Record Investment Fundings and Portfolio Growth in Fiscal Year 2019
DECLARES FIRST QUARTER 2020 DISTRIBUTION OF $0.36 PER SHARE
Looks like an awesome company that pays a nice dividend.
Gonna buy some shares on Friday to get the dividend on December 14 2020
TriplePoint Venture Growth BDC Corp. (TPVG) (the “Company,” "TPVG," “we,” “us,” or “our”), the leading financing provider to venture growth stage companies backed by a select group of venture capital firms in the technology, life sciences and other high growth industries, today announced that its Board of Directors declared a special distribution of $0.10 per share, payable on December 28, 2018, to shareholders of record at the close of business on December 20, 2018.
this stock makes me smile every morning. it feels good to get lucky every once in a while
Triple B rating, keeps getting better. IMO undervalued, enjoying the Div.
i got smart or lucky on this one, a good divi and cap gain.
Why the drop today
TPVG is be best BDC buy today.
So it priced 6M common shares at 13.70, yet it dropped 5.31% to as low as 13.20.
On 8/1/18, it announced its Q2 earning, with a NAV of 13.45, up 0.11 from previous quarter;
An NII of 0.50 and declared a qtr dividend of 0.36 (same as previous) with an ex-div date on 8/30/18.
At its current price of 13.20, its yield is a respectable 10.9%, not great but its NII can sustain its dividend easily.
So why such a large sell off today? Its current daily volume so far is 2,764,044 comparing with a daily average of 111,980.
Well, I believe is because of FEAR, fear of many investors, always bought BDCs for the wrong reason (high yield) and sold them also for the wrong reason (fear). In short, bought HIGH and sold LOW.
I do hope it will drop some more. Did buy quite a few shares today. It is the BDC buy today, IMHO. Of course, I can be wrong.
A puzzling BDC
I have to admit TPVG is a puzzle to me because on 10/30/18 I saw this on ETrade:
TriplePoint Venture Growth BDC Corp. Announces Record Investment Income of $17.7 Million and Net Increase in Net Assets of $0.50 Per Share for the Third Quarter of 2018
So I took a look at the real numbers from Q3 ended on 9/30/2018, its NAV was 13.59, a rise of 0.14 from its previous NAV;
Its NII was 0.46, more than enough to cover its declared quarter dividend of 0.36, with an ex-div date of 11/29/18.
So why the heck it could not rise above to or above $13 a share, today (11/15/18) it dropped to 12.26, down 1.68%, previous low was 12.20 on 10/24/18 and its 12-mo low was 11.12 on 3/2/18. Will it bounce back and move closer to $13 or continues to drop to below 12? Your guess would be as good as mine. Its current yield, at today's price of 12.26, is a very SAFE 11.75% yield and it may even declare special dividend by the end of this year. Now, it was only traded with 1 very small 9.8% discount, quite small comparing with other BDCs. But ..... I try to figure out if I should add more now or wait. Thoughts?
one of the best performing REITs during the COVID pandemic. Lost some share price, but has been able to maintain the high DIV based on excellent business revenue
What's with this stock? Any announcement from the company?
I am holding on.
well Its been two weeks and nobody said anything again....must be happy from the 24 percent return this year so far. Does anyone here notice the relationship between the level of forum action and share price? Seems more forum chat means worse performance
Big time dilution “TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the "Company") today announced that it has priced an underwritten offering of 5,000,000 shares of its common stock resulting in net proceeds exclusive of offering expenses to the Company of approximately $68.25 million, or $13.65 per share. In connection with the offering, the Company has granted the underwriters for the offering an option to purchase up to an additional 750,000 shares of the Company’s common stock.”
Looks like a great buying opportunity here.
All BDC's got hammered today. Main St Capital, which is considered "best of breed" was down 5.12%. TPVG was down 5.77%. The fundamentals of TPVG have not changed. As Jman said, they're paying a year end "special dividend". This weeks rate hike should be baked in already but the credit markets have become skittish. This will pass and TPVG will be fine.
i dont understand why this stock doesnt get more attention. it seems like a long haul keeper.
Could see another spillover dividend like last dec 28th. See they have around 19 cents like last year. The cc talks about approx amount-see pg 6
After giving effect of these declared distributions, we continued to estimate spillover income consistent with our spillover at year-end 2018, which totaled approximately $4.6 million or $0.185 per share.
New purchase, building a dividend centered portfolio. Numbers look good, could be another Main Street.
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