Horizon Technology Finance Announces 10% Increase in Monthly Distributions for January, February and March 2023 to a Total of $0.33 per Share and Special Distribution for December 2022 of $0.05 per Share
Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced a 10% increase in monthly cash distributions to $0.11 per share for January, February, and March 2023, alongside a special distribution of $0.05 per share payable in December 2022. The total distributions amount to $0.38 per share. Since its IPO in 2010, Horizon has paid $197 million in distributions. The company also offers a Dividend Reinvestment Plan (DRIP) for shareholders to reinvest distributions into additional shares.
- 10% increase in monthly distributions to $0.11 per share.
- Total distributions for the period amount to $0.38 per share.
- Special distribution of $0.05 per share for December 2022.
- $197 million paid in total distributions since 2010.
- None.
Farmington, Conn., Nov. 1, 2022 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon") (the "Company"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today that its board of directors has declared a
Monthly Distributions Declared in Fourth Quarter 2022 | |||
Ex-Dividend Date | Record Date | Payment Date | Amount per Share |
December 16, 2022 | December 19, 2022 | January 13, 2023 | |
January 17, 2023 | January 18, 2023 | February 15, 2023 | |
February 16, 2023 | February 17, 2023 | March 15, 2023 | |
Total: | |||
Special Distribution | |||
Ex-Dividend Date | Record Date | Payment Date | Amount per Share |
November 16, 2022 | November 17, 2022 | December 15, 2022 | |
When declaring distributions, the Horizon board of directors reviews estimates of taxable income available for distribution, which may differ from consolidated net income under generally accepted accounting principles due to (i) changes in unrealized appreciation and depreciation, (ii) temporary and permanent differences in income and expense recognition, and (iii) the amount of spillover income carried over from a given year for distribution in the following year. The final determination of taxable income for each tax year, as well as the tax attributes for distributions in such tax year, will be made after the close of the tax year.
Horizon maintains a "Dividend Reinvestment Plan" ("DRIP") that provides for the reinvestment of distributions on behalf of its stockholders, unless a stockholder has elected to receive distributions in cash. As a result, if Horizon declares a distribution, its stockholders who have not "opted out" of the DRIP by the distribution record date will have their distribution automatically reinvested into additional shares of Horizon's common stock. Horizon has the option to satisfy the share requirements of the DRIP through the issuance of new shares of common stock or through open market purchases of common stock by the DRIP plan administrator. Newly-issued shares will be valued based upon the final closing price of Horizon's common stock on a specified valuation date for each distribution as determined by Horizon's board of directors. Shares purchased in the open market to satisfy the DRIP requirements will be valued based upon the average price of the applicable shares purchased by the DRIP plan administrator, before any associated brokerage or other costs, which are borne by Horizon.
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located in Austin, Texas, Chicago, Illinois, Reston, Virginia and Portland, Maine. To learn more, please visit horizontechfinance.com.
Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Horizon's filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Contacts:
Investor Relations:
ICR
Garrett Edson
ir@horizontechfinance.com
(860) 284-6450
Media Relations:
ICR
Chris Gillick
HorizonPR@icrinc.com
(646) 677-1819
View original content:SOURCE Horizon Technology Finance Corporation
FAQ
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