TPVG Annouces Their Earnings

TPVG Earnings

TPVG has been a very quiet component of my dividend portfolio that I added this year.  They are a BDC that went public in March.  I try to look several things with BDCs.

1.  I want to be comfortable regarding sustainability of their dividend
2. I look at their price to book value and
3. I try to understand what makes them unique.

TPVG (TriplePoint Venture Growth BDC Corp. Announces First Quarter 2014 Financial Results and Second Quarter 2014 Dividend of $0.30 Per Share) is trading at 15.03 (NAV is 14.58).  The annual dividend will be $1.20, so that is an 8% yield.  I did not see enough in their first earnings report (not a full quarter) to ascertain the safety of the dividend.

What attracted me to TPVG (but I am now viewing as a negative) is they provide venture capital.  IPOs have kind of been a four letter word of late, so I believe there is potential for TPVG to have more flops in pipeline than originally thought.  I am not sure what I will do, but I do plan to put on my close watch list.

Added To FSC

My other BDC is FSC.  They announced earnings last week and inexplicably dropped to 9.19 today (NAV is about 9.81).  I decided to use the weakness to increase my position by 22% (actually, now that I look at it, they did go x dividend today, so that would explain 8 cents of the drop).

Here are all my dividend stocks:

Stock	Shares	Avg Cost	Current Price	Dividends Received	Pct Change	R3K Change	Diff
AOD	14,005	8.02	8.62	8,532.19	15.0%	17.3%	-2.3%
BBEP	5,713	16.74	20.28	7,788.60	29.3%	10.9%	18.4%
CSQ	6,856	8.65	11.40	12,579.25	53.0%	51.4%	1.6%
FGL	4,000	20.69	20.65	195.00	0.1%	3.0%	-2.9%
FSC	8,264	9.57	9.19	1,675.47	-1.8%	1.6%	-3.5%
KLAC	700	67.21	63.10	-	-6.1%	0.8%	-6.9%
NTC	6,691	12.01	12.58	1,516.77	6.7%	2.3%	4.3%
O	593	20.73	43.68	9,133.01	185.0%	110.9%	74.1%
OIBAX	4,125	5.00	6.17	8,067.44	62.6%	118.5%	-55.9%
PM	1,000	78.60	85.93	940.00	10.5%	1.7%	8.8%
TGONF	7,000	10.27	10.05	2,367.50	1.1%	15.4%	-14.2%
TPVG	5,029	15.55	15.03	450.00	-2.8%	-0.1%	-2.6%
Total Open				53,245	14.8%	14.2%	0.5%
Closed					12.4%	11.0%	1.3%
Combined					12.8%	11.6%	1.2%
Annualized IRR Since 12/31/10					16.9%
2014 Gain					1.3%

Stock	Shares	Ann Dividend / Share	Yield	Projected Dividend	Worth
AOD	14,005	0.68	7.9%	9,495	120,720
BBEP	5,713	1.95	9.6%	11,141	115,864
CSQ	6,856	1.00	8.8%	6,856	78,156
FGL	4,000	0.26	1.3%	1,040	82,600
FSC	8,264	1.00	10.9%	8,264	75,943
KLAC	700	1.80	2.9%	1,260	44,170
NTC	6,691	0.68	5.4%	4,577	84,179
O	593	2.17	5.0%	1,287	25,904
OIBAX	4,125	0.29	4.7%	1,196	25,453
PM	1,000	3.76	4.4%	3,760	85,930
TGONF	7,000	0.60	6.0%	4,200	70,350
TPVG	5,029	1.20	8.0%	6,035	75,586
Total			6.7%	59,110	884,855

Stock	Shares	x Date	Div/Share	Est New Shares	Amount
CF	120	5/14/14	$         1.00	-	120
KLAC	652	5/15/14	$         0.45	4.0	293
CA	1,013	5/15/14	$         0.25	8.0	253
AOD	14,005	5/20/14	$         0.06	91.0	791
O	593	5/29/14	$         0.18	2.0	108
OIBAX	4,136	5/30/14	$         0.02	10.0	66
FLR	344	5/30/14	$         0.21	-	72
BBEP	5,713	6/5/14	$         0.17	46.7	947
TGONF	7,000	6/5/14	$         0.15	104.0	1,050
CSQ	6,856	6/8/14	$         0.08	50.0	571
FSC	8,264	6/13/14	$         0.08	74.0	688