Blue Owl Technology Finance Corp. (OTF) To Go Ex-Dividend on March 31st

Blue Owl Technology Finance Corp. (NYSE:OTF) announced a quarterly dividend on Wednesday, February 18th. Investors of record on Tuesday, March 31st will be paid a dividend of 0.35 per share on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 11.4%. The ex-dividend date is Tuesday, March 31st. This is a 600.0% increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05.

Blue Owl Technology Finance Trading Down 2.3%

NYSE:OTF opened at $12.30 on Friday. The company has a market capitalization of $5.73 billion and a PE ratio of 7.24. The firm has a fifty day moving average of $12.47. Blue Owl Technology Finance has a twelve month low of $10.91 and a twelve month high of $21.62.

Blue Owl Technology Finance (NYSE:OTF) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). Blue Owl Technology Finance had a return on equity of 6.91% and a net margin of 62.89%.The company had revenue of $223.52 million during the quarter, compared to the consensus estimate of $326.27 million.

Blue Owl Technology Finance announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 18th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

About Blue Owl Technology Finance

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.