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

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Friday, October 25th,NASDAQ Dividends reports. Stockholders 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 of this dividend is Monday, December 16th.

Horizon Technology Finance has increased its dividend payment by an average of 3.2% per year 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 trading hours on Friday, hitting $9.29. The stock had a trading volume of 715,610 shares, compared to its average volume of 308,259. The firm has a market capitalization of $353.58 million, a price-to-earnings ratio of -77.42 and a beta of 1.22. Horizon Technology Finance has a 1-year low of $9.07 and a 1-year high of $13.73. The stock’s fifty day simple moving average is $9.69 and its 200 day simple moving average is $10.88.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings data on Tuesday, October 29th. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $24.56 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.53 earnings per share. As a group, research analysts anticipate that Horizon Technology Finance will post 1.38 EPS for the current year.

Insider Buying and Selling

In other news, President Gerald A. Michaud acquired 8,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $9.31 per share, with a total value of $74,480.00. Following the completion of the acquisition, the president now owns 169,309 shares in the company, valued at approximately $1,576,266.79. This represents a 4.96 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

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.