ArrowMark Financial Corp. Announces Q3 2024 Results and Releases Month End Estimated Net Asset Value as of November 2024
Rhea-AI Summary
ArrowMark Financial Corp. (NASDAQ: BANX) has reported its Q3 2024 results and November 2024 estimated Net Asset Value. The company announced an estimated and unaudited NAV of $22.24 as of November 30, 2024. The company achieved net income of $0.70 per share in Q3 2024, significantly exceeding its quarterly distribution of $0.45 per share. CEO Sanjai Bhonsle highlighted that the Fund has consistently over-earned its quarterly distribution rate over the past five years, meeting its objective of providing consistent shareholder income.
Positive
- Q3 2024 net income of $0.70 per share exceeds quarterly distribution of $0.45
- Five-year track record of over-earning quarterly distribution rate
- Consistent delivery of shareholder income objectives
Negative
- None.
News Market Reaction – BANX
In the trading session that priced this news, BANX gained 0.05%, 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, Dec. 17, 2024 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp. (NASDAQ: BANX) ("ArrowMark Financial"), today announced that BANX’s estimated and unaudited Net Asset Value (“NAV”) as of November 30, 2024, was
“We are very pleased to share that the net income for Q3 2024 was
This estimated NAV is not a comprehensive statement of our financial condition or results for the month November 30, 2024.
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. BANX pursues its objective by investing primarily in regulatory capital securities of financial institutions. BANX is managed by ArrowMark Asset Management, LLC. To learn more, visit ir.arrowmarkfinancialcorp.com, or contact Destra at 877.855.3434 or by email at BANX@destracapital.com.
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 Company with the SEC are accessible on the SEC's website at www.sec.gov and on the BANX’s website at ir.arrowmarkfinancialcorp.com.
Contact:
BANX@destracapital.com
