ArrowMark Financial Corp Stock Price, News & Analysis

ArrowMark Financial Corp. (NASDAQ: BANX) announced a cash distribution of $0.39 per share for Q1 2023, payable on March 31, 2023. This follows a strong performance with net income of $0.53 per share in Q4 2022, exceeding the distribution rate. The company expressed commitment to enhancing shareholder value through consistent distributions and risk-adjusted returns. Shareholders of record by March 24, 2023 will receive the payout. ArrowMark operates as a non-diversified, closed-end fund primarily investing in regulatory capital securities of financial institutions.

ArrowMark Financial Corp. (Nasdaq: BANX) has declared a total cash distribution of $0.49 per share for Q4 2022, comprising a special cash distribution of $0.10 per share and a regular cash distribution of $0.39 per share. The distribution will be payable on January 5, 2023, to shareholders of record as of December 29, 2022. The company attributes this special distribution to a stable Net Asset Value and its capacity to generate excess income during 2022. This move underlines ArrowMark's commitment to delivering long-term value to shareholders.

ArrowMark Financial Corp. (BANX) reported its third-quarter results for 2022, posting net investment income of $3.3 million, or $0.46 per share, from $5.3 million in gross income after $2.0 million in expenses. The company realized proceeds of approximately $14.9 million from investment sales and partial paydowns. The estimated annual yield from its invested portfolio rose to 11.85%, an increase of 174 basis points from the previous quarter. The company's net assets were $147.3 million, with a Net Asset Value of $20.74 per share, down $0.20 from the prior quarter. A regular cash distribution of $0.39 per share was paid on September 29, 2022.