FARMINGTON, Conn., May 7, 2013 (GLOBE NEWSWIRE) -- Horizon Technology Finance Corporation (Nasdaq:HRZN) (the "Company" or "Horizon"), a leading specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies in the technology, life science, healthcare information and services, and clean-tech industries, announced today that its Board of Directors declared monthly dividends of $0.115 per share for each of July, August and September 2013. These monthly dividends, which will be payable in the third quarter of 2013 as set forth in the table below, total $0.345 per share. Including the monthly dividends declared in the second quarter of 2013, Horizon has declared $4.24 per share in cumulative dividends since its October 2010 initial public offering.
|Monthly Dividends Declared in Second Quarter 2013|
|Declared||Ex-Dividend Date||Record Date||Payment Date||Amount Per Share|
|May 3, 2013||June 18, 2013||June 20, 2013||July 15, 2013||$0.115|
|May 3, 2013||July 15, 2013||July 17, 2013||August 15, 2013||$0.115|
|May 3, 2013||August 15, 2013||August 19, 2013||September 16, 2013||$0.115|
When declaring dividends, 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 dividends in such tax year, will be made after the close of the tax year.