ArrowMark Financial Corp. Announces an Increase in the First Quarter 2022 Cash Distribution to $0.39 per Share
ArrowMark Financial Corp. (Nasdaq: BANX) announced a quarterly cash distribution increase to $0.39 per share, up from $0.38, effective for Q1 2022. The distribution will be payable on March 28, 2022, to shareholders of record as of March 21, 2022. Chairman & CEO Sanjai Bhonsle highlighted this increase reflects the company's capacity to consistently over-earn its declared dividend. However, investors should note that a portion of the distributions may include a return of capital, not solely net investment income, which can affect tax reporting.
- Quarterly cash distribution increased to $0.39 per share from $0.38.
- Dividend increase reflects the company's ability to consistently over-earn its declared dividend.
- A portion of distributions may include a return of capital, not solely net investment income.
DENVER, March 03, 2022 (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 increased the quarterly cash distribution to
“We are pleased to offer our shareholders a dividend increase this quarter. We believe, the dividend increase reflects the Company’s ability to consistently over-earn it’s declared quarterly dividend rate. ArrowMark Financial is committed to maximizing total risk-adjusted returns and generating long-term value for our shareholders,” said Chairman & CEO Sanjai Bhonsle.
Disclosures
A portion of the Company’s distributions may, from time to time, include sources other than net investment income, including a return of capital. Investors should understand that a return of capital is not a distribution from income or gains of a Company. As required under the Investment Company Act of 1940, as amended, a notice with the estimated components of the distribution will be sent to shareholders at the time of payment if it does not consist solely of net investment income. The notice should not be used to prepare tax returns as the estimates indicated in the notice may differ from the ultimate federal income tax characterization of distributions. After the end of each calendar year, investors will be sent a Form 1099-DIV informing them how to report distributions received during that year for federal income tax purposes.
About ArrowMark Financial
ArrowMark Financial is an SEC registered non-diversified, closed-end investment company listed on the NASDAQ Global Select Market under the symbol “BANX.” Its investment objective is to provide stockholders with current income. ArrowMark Financial is managed by ArrowMark Asset Management, LLC. To learn more, visit ir.arrowmarkfinancialcorp.com.
Forward-Looking Statements
This press release contains statements that are not historical facts and are forward-looking statements based on current management expectations involving substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. Actual future results may differ significantly from those stated in any forward-looking statement, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of shares of common stock, the continuation of investment advisory, administrative and service contracts, and other risks discussed from time to time in ArrowMark Financial’s filings with the SEC.
CONTACT:
Investor Contact:
Julie Muraco
212-468-5441
Source: ArrowMark Financial Corp.
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