Horizon Technology Finance Announces Monthly Distributions for April, May and June 2023 Totaling $0.33 per Share

Rhea-AI Summary

Horizon Technology Finance Corporation (NASDAQ: HRZN) announced monthly cash distributions of $0.11 per share for April, May, and June 2023, totaling $0.33 per share. This decision follows a review of taxable income estimates by the board of directors. Since its IPO in 2010, Horizon has disbursed $210 million in distributions to shareholders. The company also offers a Dividend Reinvestment Plan (DRIP) for shareholders who prefer to reinvest their distributions. The ex-dividend and record dates for each distribution are specified in the announcement, enabling investors to plan accordingly.

Positive

• Monthly cash distributions declared total $0.33 per share for April, May, and June 2023.
• Cumulative distributions since IPO in 2010 amount to $210 million.

Negative

• None.

FARMINGTON, Conn., Feb. 28, 2023 /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 monthly cash distributions of $0.11 per share, payable in each of April, May and June 2023.  The following table shows these distributions, payable as set forth in the table below, total $0.33 per share. Since its 2010 initial public offering, Horizon has paid a total of $210 million in distributions to its shareholders.

Monthly Distributions Declared in First Quarter 2023

Ex-Dividend Date	Record Date	Payment Date		Amount per Share
March 16, 2023	March 17, 2023	April 14, 2023		$0.11
April 17, 2023	April 18, 2023	May 16, 2023		$0.11
May 17, 2023	May 18, 2023	June 14, 2023		$0.11
			Total:	$0.33

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.

About Horizon Technology Finance

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. 

Forward-Looking Statements

 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

 

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SOURCE Horizon Technology Finance Corporation

FAQ

What are the announced cash distributions for Horizon Technology Finance in Q2 2023?

Horizon Technology Finance announced cash distributions of $0.11 per share for April, May, and June 2023, totaling $0.33 per share.

When are the ex-dividend dates for HRZN's distributions?

The ex-dividend dates are March 16, April 17, and May 17, 2023.

How much has Horizon Technology Finance paid in distributions since its IPO?

Since its IPO in 2010, Horizon Technology Finance has paid a total of $210 million in distributions.

What is the Dividend Reinvestment Plan (DRIP) offered by Horizon?

Horizon offers a Dividend Reinvestment Plan (DRIP) that allows shareholders to automatically reinvest their cash distributions into additional shares of the company's common stock.