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, February 18th. Shareholders of record on Tuesday, March 31st will be given a dividend of 0.35 per share on Wednesday, April 15th. This represents a c) annualized dividend and a yield of 11.3%. The ex-dividend date of this dividend 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 Stock Down 2.3%

Shares of OTF stock traded down $0.29 during trading hours on Thursday, hitting $12.34. 407,816 shares of the company were exchanged, compared to its average volume of 1,748,472. Blue Owl Technology Finance has a 52-week low of $11.73 and a 52-week high of $21.62. The firm has a market cap of $5.78 billion and a P/E ratio of 7.09.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.02). The company had revenue of $320.58 million during the quarter, compared to analysts’ expectations of $326.27 million. Blue Owl Technology Finance had a net margin of 62.05% and a return on equity of 7.25%.

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.