Horizon Technology Finance Co. (NASDAQ:HRZN) Declares $0.11 Monthly Dividend

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Friday, October 25th,NASDAQ Dividends reports. Shareholders 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 yield of 14.21%. The ex-dividend date is Monday, December 16th.

Horizon Technology Finance has increased 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 HRZN traded down $0.11 during trading hours on Friday, hitting $9.29. 715,610 shares of the company were exchanged, compared to its average volume of 308,259. The firm’s 50 day moving average is $9.69 and its 200-day moving average is $10.88. Horizon Technology Finance has a 52 week low of $9.07 and a 52 week high of $13.73. The company has a market cap of $353.58 million, a PE ratio of -77.42 and a beta of 1.22.

Horizon Technology Finance (NASDAQ:HRZN) last announced 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). Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. The company had revenue of $24.56 million for the quarter, compared to the consensus estimate of $25.38 million. During the same period in the previous year, the company earned $0.53 EPS. As a group, equities analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Gerald A. Michaud bought 8,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $9.31 per share, with a total value of $74,480.00. Following the completion of 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.40% of the company’s stock.

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.