FARMINGTON, Conn., March 11, 2014 (GLOBE NEWSWIRE) -- Horizon Technology Finance Corporation (Nasdaq:HRZN) ("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 cleantech industries, announced today that its board of directors declared monthly dividends of $0.115 per share payable in each of April, May and June 2014. These monthly dividends, payable as set forth in the table below, total $0.345 per share. Including the monthly dividends declared in the first quarter of 2014, Horizon has declared $5.27 per share in cumulative dividends since its October 2010 initial public offering.
Monthly Dividends Declared in First Quarter 2014
|Declared||Record Date||Payment Date||Amount Per Share|
|March 6, 2014||March 19, 2014||April 15, 2014||$0.115|
|March 6, 2014||April 17, 2014||May 15, 2014||$0.115|
|March 6, 2014||May 20, 2014||June 16, 2014||$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.
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