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Horizon Technology Finance Announces Monthly Distributions for October, November and December 2023 Totaling $0.33 per Share
FARMINGTON, Conn., Aug. 1, 2023 /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., Aug. 1, 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 October, November and December 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 $226 million in distributions to its shareholders.\nMonthly Distributions Declared in Second Quarter 2023\nEx-Dividend Date\nRecord Date\nPayment Date\nAmount per Share\nSeptember 18, 2023\nSeptember 19, 2023\nOctober 16, 2023\n$0.11\nOctober 17, 2023\nOctober 18, 2023\nNovember 15, 2023\n$0.11\nNovember 16, 2023\nNovember 17, 2023\nDecember 15, 2023\n$0.11\nTotal:\n$0.33\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 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...