ArrowMark Financial Corp. Announces Special Distribution of $0.10 and Regular Cash Distribution of $0.45 per Share for the Fourth Quarter 2023

Rhea-AI Summary

ArrowMark Financial Corp. (Nasdaq: BANX) has declared a special cash distribution of $0.10 per share generated from excess income, and a regular cash distribution of $0.45 per share for the fourth quarter 2023. The total distribution of $0.55 per share will be payable on January 5, 2024 to shareholders of record on December 29, 2023. Chairman & CEO Sanjai Bhonsle expressed the company's commitment to providing consistent risk-adjusted returns while focusing on capital preservation and income generation for shareholders.

DENVER, Dec. 08, 2023 (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 has declared a special cash distribution of $0.10 per share generated from excess income, and a regular cash distribution of $0.45 per share for the fourth quarter 2023. The total distribution of $0.55 per share will be payable on January 5, 2024 to shareholders of record on December 29, 2023.

“We are very pleased to announce the special distribution for Q4 2023 along with the recently increased distribution rate of $0.45. We believe this distribution reflects the Fund’s ability to consistently over-earn its declared quarterly distribution rate. ArrowMark Financial is committed to providing consistent risk-adjusted returns while maintaining focus on capital preservation and income generation for our shareholders,” said Chairman & CEO Sanjai Bhonsle.

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 special cash distribution declared by ArrowMark Financial Corp. (Nasdaq: BANX)?

ArrowMark Financial Corp. (Nasdaq: BANX) has declared a special cash distribution of $0.10 per share generated from excess income.

When will the total distribution of $0.55 per share be payable to shareholders of ArrowMark Financial Corp. (Nasdaq: BANX)?

The total distribution of $0.55 per share will be payable on January 5, 2024 to shareholders of record on December 29, 2023.

Who is the Chairman & CEO of ArrowMark Financial Corp. (Nasdaq: BANX)?

Sanjai Bhonsle is the Chairman & CEO of ArrowMark Financial Corp. (Nasdaq: BANX) and expressed the company's commitment to providing consistent risk-adjusted returns while focusing on capital preservation and income generation for shareholders.