Blue Owl Technology Finance Corp. Announces Quarterly Dividend of $0.05 (NYSE:OTF)

Blue Owl Technology Finance Corp. (NYSE:OTFGet Free Report) announced a quarterly dividend on Monday, June 2nd. Stockholders of record on Monday, March 23rd will be given a dividend of 0.05 per share on Tuesday, April 7th. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, March 23rd.

Blue Owl Technology Finance Stock Down 2.5%

Shares of OTF opened at $12.34 on Friday. The firm has a market cap of $5.74 billion and a P/E ratio of 7.26. Blue Owl Technology Finance has a fifty-two week low of $10.91 and a fifty-two week high of $21.62. The firm has a 50-day simple moving average of $12.64.

Blue Owl Technology Finance (NYSE:OTFGet Free Report) last posted its quarterly earnings results 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 $320.58 million for the quarter, compared to analyst estimates of $326.27 million.

Blue Owl Technology Finance announced that its board has initiated a share repurchase program on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

About Blue Owl Technology Finance

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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.

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