ArrowMark Financial Corp. reports news as an SEC-registered, non-diversified closed-end management investment company listed on Nasdaq under BANX. The fund seeks current income by investing primarily in regulatory capital securities of financial institutions and is managed by ArrowMark Asset Management, LLC.
Recurring company updates focus on cash distributions, periodic results, net asset value references, and capital actions involving common shares. News also covers rights offerings, registered direct offerings, and the fund’s use of offering proceeds within its stated investment objective and policies.
ArrowMark Financial Corp. (Nasdaq: BANX) reported its fourth fiscal quarter results for the period ended December 31, 2021. The company invested approximately $22.5 million in five investments, realizing proceeds of $14.1 million from multiple transactions. The estimated annualized yield of the portfolio increased to 9.48%.
Net investment income was $2,870,872 or $0.41 per share, while net assets stood at $153.5 million. The Net Asset Value decreased to $21.70 per share. A regular cash distribution of $0.38 per share and a special dividend of $0.10 were announced, totaling $0.48 per share.
StoneCastle Financial Corp. has officially changed its name to ArrowMark Financial Corp. as of February 24, 2022. This rebranding aligns the company with the ArrowMark Partners platform, enhancing its operational integration. The ticker symbol (NASDAQ:BANX) and CUSIP remain unchanged. ArrowMark Financial retains its existing management team and investment strategies focused on income generation and risk-adjusted returns. Shareholders will benefit from the expanded resources under ArrowMark Partners.
StoneCastle Financial Corp. (NASDAQ: BANX) announced an estimated Net Asset Value (NAV) of $21.74 as of January 31, 2022. The company will discuss its financial results and market views in a conference call on February 28, 2022, at 5:00 p.m. ET, hosted by CEO Sanjai Bhonsle and CFO Patrick Farrell. Investors can join via phone or a live webcast from the company's investor relations site. A replay will be available from 8:00 p.m. ET on the same day.
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StoneCastle Financial (Nasdaq: BANX) announced a total cash distribution of $0.48 per share, comprising a special cash distribution of $0.10 and a regular distribution of $0.38 for Q4 2021. This reflects the company's prudent investment strategy and ability to generate excess income. The distribution is payable on January 5, 2022 to shareholders of record by December 29, 2021. The announcement emphasizes the company's commitment to maximizing shareholder returns, although part of the distribution may involve a return of capital.
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StoneCastle Financial Corp. (Nasdaq: BANX) reported its third fiscal quarter results for 2021, ending September 30. The company invested approximately $20.9 million in six investments and realized $5.0 million from a partial sale. The estimated annualized yield of the portfolio was 9.20%. Net investment income reached $2,799,280 or $0.40 per share. Shareholders received a cash distribution of $0.38 per share. At quarter end, net assets totaled $154.5 million, with a net asset value of $21.86 per share.
StoneCastle Financial Corp. (Nasdaq: BANX) has filed a prospectus supplement with the SEC to offer and sell up to $30 million of its common stock through an at-the-market equity offering program. Sales will be conducted by B. Riley Securities, Inc. and are contingent upon various factors determined by the Company. The funds raised will be invested in line with its investment policy. Investors are encouraged to review the prospectus and related documents available on the SEC's website for comprehensive details and associated investment risks.
The estimated Net Asset Value (NAV) of StoneCastle Financial Corp. (NASDAQ: BANX) as of September 30, 2021, stands at $21.85. The company will hold a conference call on November 10, 2021, at 5:00 p.m. ET to discuss financial results and insights on bank-related assets. This call will be accessible via telephone and the Internet, with a replay available until November 24, 2021. The company aims to provide current income to stockholders and is managed by StoneCastle-ArrowMark Asset Management.