Blue Owl Technology Finance Corp. (OTF) to Distribute Quarterly Dividend of $0.35 on October 15th

Blue Owl Technology Finance Corp. (NYSE:OTF) announced a quarterly dividend on Tuesday, August 4th. Shareholders of record on Wednesday, September 30th will be paid a dividend of 0.35 per share on Thursday, October 15th. This represents a c) annualized dividend and a yield of 12.4%. 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 Stock Up 8.7%

Shares of Blue Owl Technology Finance stock traded up $0.91 during trading hours on Thursday, hitting $11.32. The company’s stock had a trading volume of 4,112,851 shares, compared to its average volume of 2,252,611. The business has a fifty day moving average of $10.53 and a 200 day moving average of $11.46. Blue Owl Technology Finance has a 1-year low of $9.75 and a 1-year high of $15.82. The company has a market capitalization of $5.24 billion, a PE ratio of 12.63 and a beta of -0.86.

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

Insiders Place Their Bets

In other Blue Owl Technology Finance news, Director Chris Temple purchased 7,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $10.71 per share, with a total value of $74,970.00. Following the completion of the acquisition, the director owned 12,000 shares of the company’s stock, valued at approximately $128,520. This trade represents a 140.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Melissa Weiler acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the purchase, the director owned 10,000 shares of the company’s stock, valued at approximately $109,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 18,000 shares of company stock valued at $194,710 in the last quarter. 0.05% of the stock is currently owned by insiders.

Institutional Trading of Blue Owl Technology Finance

A number of institutional investors have recently made changes to their positions in OTF. California State Teachers Retirement System bought a new stake in Blue Owl Technology Finance during the first quarter worth approximately $250,556,000. Orange County Employees Retirement System bought a new stake in shares of Blue Owl Technology Finance in the 4th quarter worth $116,497,000. Capricorn Investment Group LLC acquired a new stake in shares of Blue Owl Technology Finance in the fourth quarter valued at $78,915,000. Franklin Resources Inc. grew its holdings in 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 worth $25,507,000 after acquiring an additional 1,753,127 shares during the period. Finally, Rivernorth Capital Management LLC raised its position in Blue Owl Technology Finance by 374.2% in the fourth quarter. Rivernorth Capital Management LLC now owns 1,934,726 shares of the company’s stock worth $28,131,000 after acquiring an additional 1,526,695 shares in the last quarter.

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.