Horizon Technology Finance Corp (NASDAQ:HRZN) declared a monthly dividend on Wednesday, October 31st, Wall Street Journal reports. Shareholders of record on Wednesday, February 20th will be given a dividend of 0.10 per share by the investment management company on Friday, March 15th. This represents a $1.20 dividend on an annualized basis and a yield of 9.68%. The ex-dividend date of this dividend is Tuesday, February 19th.
Horizon Technology Finance has decreased its dividend by an average of 4.6% per year over the last three years. Horizon Technology Finance has a payout ratio of 105.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Horizon Technology Finance to earn $1.20 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 100.0%.
NASDAQ HRZN opened at $12.40 on Thursday. Horizon Technology Finance has a 12 month low of $9.92 and a 12 month high of $12.44. The stock has a market capitalization of $142.20 million, a price-to-earnings ratio of 11.59 and a beta of 0.77.
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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, and cleantech industries.
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