Horizon Technology Finance Corp (HRZN) To Go Ex-Dividend on February 19th

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.

A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. National Securities reissued a “neutral” rating and set a $11.00 price target on shares of Horizon Technology Finance in a research report on Friday, November 2nd. Finally, Keefe, Bruyette & Woods cut shares of Horizon Technology Finance from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $10.50 to $10.00 in a research report on Sunday, October 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Horizon Technology Finance has a consensus rating of “Hold” and a consensus target price of $11.50.

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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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Dividend History for Horizon Technology Finance (NASDAQ:HRZN)

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