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

Blue Owl Technology Finance Corp. (NYSE:OTF) announced a quarterly dividend on Wednesday, August 5th. Shareholders of record on Wednesday, September 30th will be given a dividend of 0.35 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 13.0%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a 600.0% increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05.

Blue Owl Technology Finance Price Performance

Shares of NYSE:OTF traded up $0.38 during trading on Thursday, reaching $10.79. The company had a trading volume of 222,365 shares, compared to its average volume of 2,230,390. Blue Owl Technology Finance has a fifty-two week low of $9.75 and a fifty-two week high of $15.82. The stock’s fifty day moving average price is $10.53 and its 200 day moving average price is $11.46. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 11.99 and a beta of -0.86.

Blue Owl Technology Finance (NYSE:OTF) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. The firm had revenue of $263.96 million during the quarter. Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.During the same period in the prior year, the business earned $0.45 earnings per share. On average, equities analysts anticipate that Blue Owl Technology Finance will post 1.26 EPS for the current fiscal year.

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.