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TriplePoint Venture Growth BDC Corp. Announces Special Distribution of $0.10 per Share
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) declared a special distribution of $0.10 per share, payable on December 30, 2022, to shareholders on record as of December 22, 2022. This special distribution contributes to the total declared distributions of $1.55 per share in 2022, bringing the cumulative amount since its IPO to $13.05 per share. The company has an estimated $18.5 million undistributed taxable income as of September 30, 2022. Shareholders can choose to receive the payment in cash or reinvest in shares.
Positive
Declared a special distribution of $0.10 per share.
Total distributions for 2022 now at $1.55 per share.
Cumulative distributions since IPO reached $13.05 per share.
Estimated remaining undistributed taxable earnings at $18.5 million or $0.52 per share.
Negative
None.
Special Distribution Reflects Significant Undistributed Net Investment Income
TOTAL DISTRIBUTIONS DECLARED IN 2022 INCREASES TO $1.55
MENLO PARK, Calif.--(BUSINESS WIRE)--
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the 鈥淐ompany,鈥� "TPVG," 鈥渨e,鈥� 鈥渦s,鈥� or 鈥渙ur鈥�), the leading financing provider to venture growth stage companies backed by a select group of venture capital firms in technology and other high growth industries, announced that its Board of Directors declared a special distribution of $0.10 per share, payable on December 30, 2022, to shareholders of record at the close of business on December 22, 2022. Shareholders have the option to receive the distribution payment in cash or receive shares of common stock pursuant to the Company鈥檚 dividend reinvestment plan.
During fiscal year 2022, the Company declared distributions of $1.55 per share, bringing the total cumulative distributions declared since its IPO to $13.05 per share. The special distribution represents a portion of the Company鈥檚 estimated undistributed taxable earnings from net investment income. The anticipated remaining undistributed taxable earnings from net investment income, which was $18.5 million, or $0.52 per share, as of September 30, 2022, will spill-over into 2023.
ABOUT TRIPLEPOINT VENTURE GROWTH BDC CORP.
TriplePoint Venture Growth BDC Corp. is an externally-managed business development company focused on providing customized debt financing with warrants and direct equity investments to venture growth stage companies in technology and other high growth industries backed by a select group of venture capital firms. The Company鈥檚 sponsor, TriplePoint Capital, is a Sand Hill Road-based global investment platform which provides customized debt financing, leasing, direct equity investments and other complementary solutions to venture capital-backed companies in technology and other high growth industries at every stage of their development with unparalleled levels of creativity, flexibility and service. For more information about TriplePoint Venture Growth BDC Corp., visit . For more information about TriplePoint Capital, visit .
FORWARD-LOOKING STATEMENTS
Statements included herein may constitute 鈥渇orward-looking statements,鈥� which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results and conditions may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the SEC. The Company undertakes no duty to update any forward-looking statements made herein.
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INVESTOR RELATIONS AND MEDIA
The IGB Group Leon Berman 212-477-8438
lberman@igbir.com
Source: TriplePoint Venture Growth BDC Corp.
FAQ
What is the special distribution amount declared by TPVG?
TriplePoint Venture Growth BDC Corp. declared a special distribution of $0.10 per share.
When is the special distribution from TPVG payable?
The special distribution will be payable on December 30, 2022.
What were the total distributions declared by TPVG in 2022?
Total distributions declared by TPVG in 2022 increased to $1.55 per share.
How much undistributed taxable earnings does TPVG have?
TPVG has estimated undistributed taxable earnings of $18.5 million as of September 30, 2022.
What options do TPVG shareholders have for the special distribution?
Shareholders can receive the distribution in cash or reinvest in shares through the dividend reinvestment plan.
