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Horizon Technology Finance Announces Monthly Distributions for April, May and June 2020 Totaling $0.30 per Share and Special Distribution for April of $0.05 per Share
FARMINGTON, Conn., March 3, 2020 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon") (the "Company"), a leading specialty
About this update from Horizon Technology Finance Corporation
[{"type":"text","content":"FARMINGTON, Conn., March 3, 2020 /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 2020 and a special distribution of $0.05 per share payable in April. These monthly and special distributions, payable as set forth in the table below, total $0.35 per share. Including the monthly and special distributions declared in the first quarter of 2020, Horizon has declared $12.97 per share in cumulative distributions since its 2010 initial public offering.\n \nMonthly Distributions Declared in First Quarter 2020\nEx-Dividend Date\nRecord Date\nPayment Date\nAmount per Share\nMarch 17, 2020\nMarch 18, 2020\nApril 15, 2020\n$0.10\nApril 16, 2020\nApril 17, 2020\nMay 15, 2020\n$0.10\nMay 18, 2020\nMay 19, 2020\nJune 16, 2020 \n$0.10\nTotal:\n$0.30\nSpecial Distribution\nEx-Dividend Date\nRecord Date\nPayment Date\nAmount per Share\nMarch 17, 2020\nMarch 18, 2020\nApril 15, 2020\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 additional ...