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

Key Points

• Blue Owl Technology Finance raised its quarterly dividend to $0.35 per share (a 600% increase from $0.05), implying an annualized yield of 11.9%; the record date is June 30 and the payment date is July 15.
• The company reported Q earnings of $0.29 EPS versus $0.31 expected and revenue of $325.94 million, while the stock trades around $11.76 with a P/E of 6.91 and a market cap of $5.43 billion.
• Institutional investors significantly increased positions (notably Orange County Employees Retirement System and Franklin Resources), and director Chris Temple bought 5,000 shares at about $11.49, though insiders still own only 0.05% of the stock.

Blue Owl Technology Finance Corp. (NYSE:OTF - Get Free Report) announced a quarterly dividend on Tuesday, May 5th. Investors of record on Tuesday, June 30th will be given a dividend of 0.35 per share on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 600.0% increase from Blue Owl Technology Finance's previous quarterly dividend of $0.05.

Blue Owl Technology Finance Stock Up 1.1%

NYSE:OTF opened at $11.76 on Thursday. The stock has a market capitalization of $5.43 billion and a P/E ratio of 6.91. Blue Owl Technology Finance has a 12 month low of $10.67 and a 12 month high of $21.62. The stock has a 50-day moving average price of $11.76.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.02). Blue Owl Technology Finance had a return on equity of 6.91% and a net margin of 62.89%.The firm had revenue of $325.94 million during the quarter. During the same quarter in the prior year, the company earned $0.41 EPS. Equities research analysts predict that Blue Owl Technology Finance will post 1.31 earnings per share for the current year.

Insider Activity at Blue Owl Technology Finance

In other Blue Owl Technology Finance news, Director Chris Temple bought 5,000 shares of the business's stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average price of $11.49 per share, with a total value of $57,450.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at $57,450. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.05% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Orange County Employees Retirement System bought a new position in shares of Blue Owl Technology Finance during the fourth quarter valued at approximately $116,497,000. Capricorn Investment Group LLC bought a new position in shares of Blue Owl Technology Finance during the fourth quarter valued at approximately $78,915,000. Rivernorth Capital Management LLC grew its stake in shares of Blue Owl Technology Finance by 374.2% during the fourth quarter. Rivernorth Capital Management LLC now owns 1,934,726 shares of the company's stock valued at $28,131,000 after buying an additional 1,526,695 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Blue Owl Technology Finance by 155,006.8% during the fourth quarter. Franklin Resources Inc. now owns 1,754,258 shares of the company's stock valued at $25,507,000 after buying an additional 1,753,127 shares during the last quarter. Finally, Caz Investments LP grew its stake in shares of Blue Owl Technology Finance by 72.2% during the fourth quarter. Caz Investments LP now owns 1,159,339 shares of the company's stock valued at $16,857,000 after buying an additional 486,172 shares during the last quarter.

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.

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