$1.54 of Distributions Declared in 2018
MENLO PARK, Calif.--(BUSINESS WIRE)--
TriplePoint Venture Growth BDC Corp. (NYSE: 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. Shareholders have the
option to receive the distribution payment in cash or receive shares of
common stock pursuant to the Company’s dividend reinvestment plan.
“This distribution, along with our anticipated additional undistributed
earnings spillover, is a reflection of an outstanding year and
demonstrates our ability to generate meaningful net investment income in
excess of our quarterly dividend along with our commitment to returning
value to our shareholders,” stated Jim Labe, chairman and chief
executive officer of the Company. “The payment brings our 2018 annual
distributions to $1.54 per share, generating nearly a 13% dividend yield
as of the date of declaration,” added Mr. Labe.
During fiscal year 2018, the Company declared and paid distributions of
$1.54 per share, bringing the total cumulative distribution declared
since its IPO to $7.08 per share.
ABOUT TRIPLEPOINT VENTURE GROWTH BDC CORP.
The Company serves as the primary financing source for the venture
growth stage business segment of TriplePoint Capital LLC, the leading
global provider of financing across all stages of development to
technology, life sciences and other high growth companies backed by a
select group of venture capital firms. 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.
The Company is an externally managed, closed-end, non-diversified
management investment company that has elected to be regulated as a
business development company under the Investment Company Act of 1940,
as amended. More information is available at http://www.tpvg.com.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release constitute
forward-looking statements. Forward-looking statements are not
guarantees of future performance, condition or results and involve a
number of substantial risks and uncertainties, many of which are
difficult to predict and are generally beyond the Company's control.
Words such as "anticipates," "expects," "intends," "plans," "will,"
"may," "continue," "believes," "seeks," "estimates," "would," "could,"
"should," "targets," "projects," and variations of these words and
similar expressions are intended to identify forward-looking statements.
Actual results 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 the Company’s filings with the Securities and
Exchange Commission. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be required
by law.
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INVESTOR RELATIONS AND MEDIA CONTACT
Abernathy MacGregor
Group
Alan Oshiki / Sheila Ennis
212-371-5999 / 415-745-3294
aho@abmac.com
/ sbe@abmac.com
Source: TriplePoint Venture Growth BDC Corp.