ArrowMark Financial Corp. Announces Cash Distribution of $0.39 Per Share for First Quarter 2023

Rhea-AI Summary

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.

Positive

• Net income for Q4 2022 was $0.53 per share, exceeding the distribution rate of $0.39.
• Commitment to maximizing total risk-adjusted returns and consistent distributions.

Negative

• None.

DENVER, March 08, 2023 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp., (NASDAQ: BANX) ("ArrowMark Financial" or the “Fund”), today announced that its Board of Directors has declared a cash distribution of $0.39 per share for the first quarter 2023. “We are very pleased to announce net income for Q4 2022 was $0.53 per share, well in excess of the quarterly distribution rate of $0.39 per share. These results continue to demonstrate the Fund’s ability to consistently over-earn its declared quarterly distribution rate. ArrowMark Financial is committed to maximizing total risk-adjusted returns, generating long-term value and consistent distributions for our shareholders,” said Chairman & CEO Sanjai Bhonsle.

The distribution will be payable on March 31, 2023, to shareholders of record on March 24, 2023.

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:

BANX@destracapital.com

Destra Capital Advisors LLC 877-855-3434

Destra Capital Advisors LLC provides secondary market services for the Fund by agreement.

FAQ

What is the cash distribution declared by ArrowMark Financial for Q1 2023?

ArrowMark Financial declared a cash distribution of $0.39 per share for Q1 2023.

When will the distribution be paid to shareholders of ArrowMark Financial?

The distribution will be payable on March 31, 2023.

What was ArrowMark Financial's net income for Q4 2022?

ArrowMark Financial reported a net income of $0.53 per share for Q4 2022.

What is the record date for ArrowMark Financial's Q1 2023 distribution?

The record date for the distribution is March 24, 2023.