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

Blue Owl Technology Finance Corp. (NYSE:OTF) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.35 per share on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 13.0%. The ex-dividend date 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 Trading Up 3.5%

Shares of OTF stock opened at $10.79 on Thursday. The firm has a market capitalization of $4.99 billion, a P/E ratio of 11.98 and a beta of -0.86. Blue Owl Technology Finance has a 1 year low of $9.75 and a 1 year high of $15.82. The firm’s fifty day simple moving average is $10.53 and its 200 day simple moving average is $11.46.

Blue Owl Technology Finance (NYSE:OTF) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $263.96 million for the quarter. Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. During the same period in the prior year, the firm posted $0.45 earnings per share. Equities research 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.