Horizon Technology Finance Announces Monthly Distributions for April, May and June 2021 Totaling $0.30 per Share

Rhea-AI Summary

Horizon Technology Finance Corporation (NASDAQ: HRZN) has declared monthly cash distributions of $0.10 per share for April, May, and June 2021, totaling $0.30 per share. Since its IPO in 2010, Horizon has distributed $153 million to shareholders. The board reviews estimates of taxable income before declaring distributions, which may differ from GAAP net income. Horizon also offers a Dividend Reinvestment Plan (DRIP) for stockholders to reinvest distributions. For further information, visit horizontechfinance.com.

Positive

• Declared total cash distributions of $0.30 per share for the upcoming three months.
• Cumulatively paid $153 million in distributions since 2010 IPO.
• Offers a Dividend Reinvestment Plan (DRIP) for investors.

Negative

• None.

FARMINGTON, Conn., March 2, 2021 /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 $0.10 per share payable in each of April, May and June 2021.  These monthly distributions, payable as set forth in the table below, total $0.30 per share. Since its 2010 initial public offering, Horizon has paid a total of $153 million in distributions to its shareholders.

Monthly Distributions Declared in First Quarter 2021
Ex-Dividend Date	Record Date	Payment Date	Amount per Share
March 17, 2021	March 18, 2021	April 16, 2021	$0.10
April 19, 2021	April 20, 2021	May 14, 2021	$0.10
May 17, 2021	May 18, 2021	June 15, 2021	$0.10
		Total:	$0.30

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. Headquartered in Farmington, Connecticut, Horizon also has regional offices in Pleasanton, California and Reston, Virginia. To learn more, please visit www.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

View original content:http://www.prnewswire.com/news-releases/horizon-technology-finance-announces-monthly-distributions-for-april-may-and-june-2021-totaling-0-30-per-share-301238907.html

SOURCE Horizon Technology Finance Corporation

FAQ

What are the declared distributions per share for HRZN in April, May, and June 2021?

Horizon Technology Finance has declared monthly distributions of $0.10 per share for April, May, and June 2021, totaling $0.30 per share.

Since when has HRZN paid distributions to shareholders?

Horizon Technology Finance has paid distributions to shareholders since its IPO in 2010, totaling $153 million.

What is the record date for HRZN's distribution in April 2021?

The record date for Horizon's distribution in April 2021 is April 20, 2021.

How does the Dividend Reinvestment Plan (DRIP) work for HRZN?

Horizon’s DRIP allows stockholders to automatically reinvest their distributions into additional shares unless they opt-out by the record date.