Blue Owl Technology Finance Corp. (NYSE:OTF) to Issue Dividend Increase – $0.35 Per Share

Blue Owl Technology Finance Corp. (NYSE:OTF) announced a quarterly dividend on Tuesday, May 5th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.35 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 11.9%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 600.0% increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05.

Blue Owl Technology Finance Stock Up 1.1%

Shares of OTF stock opened at $11.76 on Thursday. Blue Owl Technology Finance has a twelve month low of $10.67 and a twelve month high of $21.62. The stock has a market cap of $5.43 billion and a PE ratio of 6.91. The stock has a fifty day moving average price of $11.76.

Blue Owl Technology Finance (NYSE:OTF) last issued its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). Blue Owl Technology Finance had a return on equity of 6.91% and a net margin of 62.89%.The firm had revenue of $325.94 million during the quarter. During the same period last year, the company earned $0.41 EPS. Analysts forecast that Blue Owl Technology Finance will post 1.31 EPS for the current fiscal year.

Blue Owl Technology Finance Company Profile

Blue Owl Technology Finance (NYSE: OTF) is a publicly traded business development company (BDC) sponsored by alternative asset manager Blue Owl. The firm focuses on providing customized debt and structured capital solutions to technology and technology-enabled companies, with an emphasis on growth-stage and middle-market borrowers. As a BDC, its primary activities include originating, structuring and managing private credit investments tailored to the financing needs of fast-growing businesses.

Its investment approach typically centers on direct lending and credit-oriented products, including senior secured loans, unitranche and subordinated debt, as well as selective equity-linked instruments and structured financings.