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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
Farmington, Conn., Nov. 1, 2022 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon") (the "Company"), a leading specialty finance
About this update from Horizon Technology Finance Corporation
[{"type":"text","content":"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 10% increase in monthly cash distributions to $0.11 per share, payable in each of January, February and March 2023, and a special distribution of $0.05 per share payable in December 2022. The following tables show these distributions, payable as set forth in the tables below, total $0.38 per share. Since its 2010 initial public offering, Horizon has paid a total of $197 million in distributions to its shareholders.\n \nMonthly Distributions Declared in Fourth Quarter 2022\nEx-Dividend Date\nRecord Date\nPayment Date\nAmount per Share\nDecember 16, 2022\nDecember 19, 2022\nJanuary 13, 2023\n$0.11\nJanuary 17, 2023\nJanuary 18, 2023\nFebruary 15, 2023\n$0.11\nFebruary 16, 2023\nFebruary 17, 2023\nMarch 15, 2023\n$0.11\nTotal:\n$0.33\n \nSpecial Distribution\nEx-Dividend Date\nRecord Date\nPayment Date\nAmount per Share\nNovember 16, 2022\nNovember 17, 2022\nDecember 15, 2022\n$0.05\n \nWhen 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.\nHorizon 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 add...