ArrowMark Financial Corp. Announces Q1 2024 Results and Cash Distribution of $0.45 per Share for the Second Quarter 2024
DENVER, June 14, 2024 (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 cash distribution of $0.45 per share for the second quarter 2024. The total distribution of $0.45 per share will be payable on June 28, 2024 to shareholders of record on June 24, 2024.
"We are very pleased to announce the net income for Q1 2024 was $0.70 per share, well in excess of the quarterly distribution amount of $0.45 per share. Over the past four years, the Fund has consistently over-earned its quarterly distribution rate. This has allowed the Fund to deliver on its objective to provide shareholders with consistent income" 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:
Destra Capital Advisors LLC (877) 855-3434
Destra Capital Advisors LLC provides secondary market services for the Fund by agreement.
