TPVG - TriplePoint Venture Growth: 17% Yield Now A Red Flag

2024-03-26 01:24:26 ET

Summary

• TriplePoint Venture Growth reported a larger-than-anticipated decline in net asset value and an increase in its payout ratio.
• The company's high non-accrual ratio and underwhelming investment performance raise concerns about the sustainability of its dividend.
• TPVG stock price has dropped and is now selling at net asset value, but caution is warranted due to the risk of a dividend cut.

The 4Q-23 results of TriplePoint Venture Growth ( TPVG ) were not well received by passive income investors as the business development company reported a larger-than-anticipated net asset value decline and a rather significant increase in its payout ratio. The latter particularly raises question about TriplePoint Venture Growth's dividend sustainability in 2024....

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