Horizon Technology Finance Co. (NASDAQ: HRZN) Plans Monthly Dividend of $0.11
Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced a monthly dividend of $0.11 per share, representing an annualized dividend of $1.32 and a dividend yield of 11.01%. This news underscores the company's commitment to shareholder returns.
Dividend Details and Schedule
The investment management company made the announcement on Friday, April 26th. Stockholders of record on Monday, June 17th will receive the dividend payment on Tuesday, July 16th. Investors should note that the ex-dividend date is also on Monday, June 17th.
Strong Dividend Growth
Horizon Technology Finance has increased its dividend payment by an average of 3.2% annually over the last three years., demonstrating robust financial health. The company’s dividend payout ratio stands at 93.6%, indicating that the dividend is currently covered by earnings.
Equities research analysts project that Horizon Technology Finance will earn $1.43 per share next year. This estimation suggests that the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 92.3%.
Stock Performance insights
NASDAQ: HRZN opened at $11.99 on Friday. The stock has shown resilience with a one-year low of $10.75 and a one-year high of $13.73. The company’s fifty-day moving average is $11.64, while its two-hundred-day moving average is $12.29.
Earnings Report Highlights
Horizon Technology Finance released its earnings results on Tuesday, April 30th. The company reported $0.38 earnings per share for the quarter, surpassing the consensus estimate of $0.36 by $0.02. The business recorded revenue of $26.13 million for the quarter, slightly below the consensus estimate of $26.83 million.
The company had a negative net margin of 12.40% but a positive return on equity of 17.98%. Analysts project that Horizon Technology Finance will post 1.48 earnings per share for the current year.
Analyst Ratings Update
Several research analysts have recently reviewed Horizon Technology Finance’s stock. Ladenburg Thalm reissued a "neutral" rating on February 28th. Oppenheimer revised its price objective from $11.00 to $10.00, assigning a "market perform" rating on March 1st. Additionally, UBS Group adjusted its price objective from $11.50 to $10.50 on March 18th, maintaining a "neutral" rating.
Overall, three equities research analysts have rated the stock with a sell rating and three have given a hold rating. The stock currently holds an average rating of "Hold" with a consensus target price of $10.38.
About Horizon Technology Finance
Horizon Technology Finance Corporation is a business development company specialized in lending and investing in development-stage investments. The company focuses on secured debt and venture lending investments to venture capital-backed companies in technology, life sciences, healthcare information and services, cleantech, and sustainability industries.
For more information, visit Horizon Technology Finance Corporation's website.
Note: The data and statements included in this article are subject to changes and should be independently verified.
