Ares Capital - ARCC STOCK NEWS

Ares Capital (NASDAQ: ARCC) has announced a significant leadership transition, with Co-President Kort Schnabel appointed as Chief Executive Officer, effective April 30, 2025. Current CEO Kipp deVeer will step down but remain on the Board of Directors and continue serving on the Investment Committee of Ares Capital's investment adviser.

Jim Miller, appointed as Co-President in October 2024, will transition to sole President. Schnabel, who joined Ares Management in 2001, was a founding member of its U.S. Direct Lending strategy in 2004 and currently serves as Partner and Co-Head of the U.S. Direct Lending strategy.

The transition represents a continuation of leadership from within, with Schnabel bringing extensive experience in private credit investing and a long-standing commitment to the company's collaborative culture and relationship-oriented approach.

Ares Capital (NASDAQ: ARCC) has disclosed its tax treatment for 2024 common stock distributions. The company will distribute $1.92 per share throughout 2024, paid in four quarterly installments of $0.48 each on March 29, June 28, September 30, and December 30.

Of the total distributions, 83.66% ($1.606291 per share) is classified as ordinary income, while 16.34% ($0.313709 per share) represents long-term capital gains. The company has designated these distributions as qualified dividend income and eligible for the dividends received deduction for U.S. domestic corporations. Additionally, specific percentages of each dividend payment are designated as interest-related dividends under IRC section 871(k).

Ares Capital (NASDAQ:ARCC) has announced it will release its financial results for the fourth quarter and fiscal year ended December 31, 2024 on Wednesday, February 5, 2025, before the Nasdaq Global Select Market opens. The company will host a webcast/conference call at 12:00 p.m. (Eastern Time) on the same day to discuss the results.

Investors can join via telephone (toll-free +1 (800) 343-4849 for domestic callers, +1 (203) 518-9848 for international) or through the company's website. Participants should dial in 10-15 minutes early and reference conference ID ARCCQ424. An archived replay will be available until March 5, 2025, through both telephone and the company's website.

Ares Capital (ARCC) has priced a $1 billion public offering of unsecured notes with a 5.800% interest rate, maturing on March 8, 2032. The notes can be redeemed at any time at par plus a make-whole premium. The offering, led by multiple joint book-running managers including BofA Securities, J.P. Morgan Securities, and SMBC Nikko Securities, is expected to close on January 8, 2025.

The company plans to use the net proceeds to repay existing debt facilities, with the option to reborrow for general corporate purposes, including portfolio company investments. The offering is subject to customary closing conditions and is being made through a prospectus supplement and accompanying prospectus filed with the SEC.

Ares Capital (NASDAQ: ARCC) announced key leadership changes. Jim Miller was appointed as Co-President alongside Kort Schnabel. The Board of Directors expanded with Mitch Goldstein joining as a new member. Goldstein and Michael L. Smith were appointed as Co-Chairmen of the Board, replacing Michael Arougheti, who remains as Director. Kipp deVeer continues as Director and CEO. Miller, who joined Ares in 2006, serves as Co-Head of U.S. Direct Lending strategy and co-leads the Sports, Media and Entertainment strategy.

Ares Capital (ARCC) announced its Q3 2024 financial results and declared a Q4 2024 dividend of $0.48 per share. The company reported Q3 GAAP net income of $0.62 per share, down from $0.89 in Q3 2023, and Core EPS of $0.58. Portfolio investments at fair value increased to $25.9 billion from $22.9 billion in December 2023. During Q3, ARCC made new investment commitments of $3.9 billion, with 93% in first lien senior secured loans. The company maintained strong credit performance with loans on non-accrual status at 1.3% of total investments at amortized cost.

Ares Capital (NASDAQ: ARCC) has announced the schedule for its third quarter 2024 earnings release and conference call. The company will report its financial results for the quarter ended September 30, 2024, on Wednesday, October 30, 2024, before the Nasdaq Global Select Market opens. A webcast/conference call will be held at 12:00 p.m. (Eastern Time) on the same day to discuss the results.

Interested parties can join via telephone or live webcast. The webcast link will be available on the Investor Resources section of Ares Capital's website. Domestic callers can dial +1 (800) 245-3047, while international callers can use +1 (203) 518-9765. Participants should dial in 10-15 minutes early and reference the conference ID ARCCQ324.

An archived replay of the call will be accessible until November 30, 2024, at 5:00 p.m. (Eastern Time) via phone and the company's website.

Ares Capital (NASDAQ: ARCC) announced financial results for Q2 2024 and declared a Q3 2024 dividend of $0.48 per share. Key highlights include:

- GAAP net income of $0.52 per share

- Core EPS of $0.61, up from $0.58 in Q2 2023

- Net investment income of $358 million ($0.58 per share)

- Portfolio investments at fair value increased to $24.97 billion

- Made new investment commitments of $3.9 billion

- Maintained a stable debt-to-equity ratio of 1.06x

The company reported strong year-over-year growth in Core EPS and net asset value per share, driven by increased investment activity and solid credit fundamentals.

Ares Capital (NASDAQ: ARCC) will release its earnings report for the second quarter ending June 30, 2024, on July 30, 2024, before the Nasdaq Global Select Market opens.

There will be a webcast and conference call at 10:00 a.m. Eastern Time that day to discuss the financial results. Interested parties can join via a live webcast on the Investor Resources section of Ares Capital's website or by calling the provided toll-free and international numbers. An archived replay will be available one hour post-call through August 30, 2024.