Horizon Technology Finance Co. (NASDAQ:HRZN) to Issue $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 of this dividend is Monday, December 16th.

Horizon Technology Finance has increased its dividend by an average of 3.2% annually over the last three years. Horizon Technology Finance has a dividend payout ratio of 104.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 during mid-day trading on Friday, reaching $9.29. 715,610 shares of the company traded hands, compared to its average volume of 308,259. The company’s fifty day moving average is $9.69 and its two-hundred day moving average is $10.88. Horizon Technology Finance has a fifty-two week low of $9.07 and a fifty-two week high of $13.73. The stock 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 issued its quarterly earnings data on Tuesday, October 29th. The investment management company reported $0.32 earnings per share 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 analyst estimates of $25.38 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Research analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Insider Buying and Selling

In other Horizon Technology Finance news, President Gerald A. Michaud bought 8,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $9.31 per share, for a total transaction of $74,480.00. Following the transaction, the president now owns 169,309 shares in the company, valued at approximately $1,576,266.79. This trade represents a 4.96 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by corporate insiders.

Horizon Technology Finance Company Profile

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.