ArrowMark Financial Corp. Announces Special Distribution of $0.20 and Regular Cash Distribution of $0.45 per Share for the Fourth Quarter 2024
Rhea-AI Summary
ArrowMark Financial Corp. (BANX) has announced two distributions for Q4 2024: a special cash distribution of $0.20 per share from excess income and a regular cash distribution of $0.45 per share, totaling $0.65 per share.
Both distributions will be paid on January 3, 2025 to shareholders of record as of December 26, 2024. The company's CEO highlighted that these distributions demonstrate the fund's consistent ability to over-earn its declared quarterly distribution rate while maintaining focus on capital preservation and income generation.
Positive
- Special distribution of $0.20 per share indicates excess income generation
- Maintained regular quarterly distribution of $0.45 per share
- Fund demonstrates ability to over-earn its declared quarterly distribution rate
Negative
- None.
News Market Reaction – BANX
In the trading session that priced this news, BANX gained 0.77%, 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. 04, 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 special cash distribution of
“We are very pleased to announce the special distribution for Q4 2024 along with the distribution rate of
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.
