Horizon Technology Finance Co. (HRZN) to Issue Monthly Dividend of $0.11 on January 15th

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Friday, October 25th,NASDAQ Dividends reports. Investors of record on Monday, December 16th will be given a dividend of 0.11 per share by the investment management company on Wednesday, January 15th. This represents a $1.32 annualized dividend and a dividend yield of 14.21%. The ex-dividend date is Monday, December 16th.

Horizon Technology Finance has raised its dividend by an average of 3.2% per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 104.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Horizon Technology Finance to earn $1.26 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 104.8%.

Horizon Technology Finance Stock Performance

Shares of NASDAQ:HRZN traded down $0.11 on Friday, hitting $9.29. The stock had a trading volume of 715,610 shares, compared to its average volume of 308,259. The company has a market capitalization of $353.58 million, a price-to-earnings ratio of -77.42 and a beta of 1.22. The firm’s 50 day moving average price is $9.69 and its 200-day moving average price is $10.88. Horizon Technology Finance has a twelve month low of $9.07 and a twelve month high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, October 29th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The firm had revenue of $24.56 million during the quarter, compared to the consensus estimate of $25.38 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. During the same quarter last year, the firm posted $0.53 EPS. As a group, sell-side analysts predict that Horizon Technology Finance will post 1.38 EPS for the current year.

Insider Activity at Horizon Technology Finance

In other Horizon Technology Finance news, President Gerald A. Michaud purchased 8,000 shares of the stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $9.31 per share, for a total transaction of $74,480.00. Following the transaction, the president now directly owns 169,309 shares in the company, valued at $1,576,266.79. This represents a 4.96 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by company insiders.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, cleantech and sustainability industries.