Welcome to our dedicated page for Ares Capital Corporation news (Ticker: ARCC), a resource for investors and traders seeking the latest updates and insights on Ares Capital Corporation stock.
Ares Capital Corporation (NASDAQ: ARCC) is a prominent specialty finance company based in the United States, uniquely positioned to meet the distinct and underserved financing needs of private middle-market companies. Established in 2004, Ares Capital focuses on generating both current income and capital appreciation through a diverse portfolio of debt and equity investments.
The company primarily invests in U.S. middle-market companies but also explores opportunities with larger firms. Its investment portfolio includes first lien senior secured loans, second lien senior secured loans, mezzanine debt (subordinated unsecured loans), and occasionally, preferred and common equity investments. These investments are spread across various industries and sectors, ensuring a well-diversified portfolio.
Ares Capital's core business revolves around providing direct loans and other financial solutions to high-quality borrowers who require capital to achieve their business objectives. This often contributes to economic growth and job creation. The company leverages its extensive direct origination capabilities and strong relationships with incumbent borrowers to source and underwrite primarily senior secured loans, as well as subordinated debt and equity investments.
As a Business Development Company (BDC), Ares Capital is subject to regulatory requirements designed to protect investors. It is the largest publicly traded BDC by market capitalization as of the latest updates. The company is externally managed by a subsidiary of Ares Management Corporation (NYSE: ARES), a leading global alternative investment manager.
Recent updates include the announcement of Ares Capital's third-quarter earnings report for 2023, scheduled for release on October 24, 2023. The company invites interested parties to join a webcast/conference call on the same day. Furthermore, Ares Capital has been highlighted as an undervalued stock by BetterInvesting Magazine's January 2024 issue.
For more detailed information and to stay updated with the latest developments, visit the Investor Resources section on their official website.
Ares Capital (NASDAQ: ARCC) will release its earnings report for the second quarter ending June 30, 2024, on July 30, 2024, before the Nasdaq Global Select Market opens.
There will be a webcast and conference call at 10:00 a.m. Eastern Time that day to discuss the financial results. Interested parties can join via a live webcast on the Investor Resources section of Ares Capital's website or by calling the provided toll-free and international numbers. An archived replay will be available one hour post-call through August 30, 2024.
Ares Capital (ARCC) will host an Investor Day on May 21, 2024, via a live video stream where the senior leadership team will provide business updates and outlook. The event will commence at 1:15 p.m. ET. Interested individuals can register on the company's website to access the presentation and stream, with a replay available afterward.
Ares Capital (ARCC) has priced a public offering of $850 million 5.950% unsecured notes due 2029. The notes mature on July 15, 2029, with options for redemption. Various institutions are involved in managing the offering. The proceeds will be used to repay existing debt and for general corporate purposes, including investments in portfolio companies.
Ares Capital announced its Q1 2024 financial results with a dividend of $0.48 per share for Q2 2024. The company reported a strong start to the year with increased earnings, low non-accruals, and moderate leverage. Ares Capital made $3.6 billion in new investment commitments in Q1 2024 and continues to support growth in existing portfolio companies. The company remains well-positioned with available capital and competitive advantages.
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