ArrowMark Financial Corp. Announces Q1 2024 Results and Cash Distribution of $0.45 per Share for the Second Quarter 2024
Rhea-AI Summary
ArrowMark Financial Corp. (Nasdaq: BANX) announced its Q1 2024 results and a cash distribution of $0.45 per share for Q2 2024. The distribution will be paid on June 28, 2024, to shareholders on record by June 24, 2024. Net income for Q1 2024 was $0.70 per share, exceeding the distribution. Over the past four years, ArrowMark Financial has consistently over-earned its quarterly distribution, providing steady income to shareholders, as highlighted by Chairman & CEO Sanjai Bhonsle.
Positive
- Q1 2024 net income was $0.70 per share.
- Cash distribution of $0.45 per share for Q2 2024.
- The distribution will be payable on June 28, 2024.
- ArrowMark Financial has consistently over-earned its quarterly distribution for four years.
- Steady income provided to shareholders.
Negative
- No negative business or financial aspects reported.
News Market Reaction – BANX
In the trading session that priced this news, BANX gained 0.22%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
DENVER, June 14, 2024 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp. (Nasdaq: BANX) ("ArrowMark Financial" or the "Company"), an SEC registered closed-end management investment company, today announced that its Board of Directors has declared a cash distribution of
“We are very pleased to announce the net income for Q1 2024 was
About ArrowMark Financial Corp.
ArrowMark Financial Corp. is an SEC registered non-diversified, closed-end fund listed on the NASDAQ Global Select Market under the symbol “BANX.” Its investment objective is to provide shareholders with current income. The Fund pursues its objective by investing primarily in regulatory capital securities of financial institutions. ArrowMark Financial is managed by ArrowMark Asset Management, LLC. To learn more, visit ir.arrowmarkfinancialcorp.com or contact the Fund’s secondary market service agent at 877-855-3434.
Disclaimer and Risk Factors:
There is no assurance that ArrowMark Financial will achieve its investment objective. ArrowMark Financial is subject to numerous risks, including investment and market risks, management risk, income and interest rate risks, banking industry risks, preferred stock risk, convertible securities risk, debt securities risk, liquidity risk, valuation risk, leverage risk, non-diversification risk, credit and counterparty risks, market at a discount from net asset value risk and market disruption risk. Shares of closed-end investment companies may trade above (a premium) or below (a discount) their net asset value. Shares of ArrowMark Financial may not be appropriate for all investors. Investors should review and consider carefully ArrowMark Financial's investment objective, risks, charges and expenses. Past performance does not guarantee future results.
The Annual Report, Semi-Annual Report and other regulatory filings of the Fund with the SEC are accessible on the SEC's website at www.sec.gov and on the Fund’s website at ir.arrowmarkfinancialcorp.com.
Contact:
Destra Capital Advisors LLC (877) 855-3434
Destra Capital Advisors LLC provides secondary market services for the Fund by agreement.
