ArrowMark Financial Corp. Announces Q1 2023 Results and Cash Distribution of $0.39 Per Share for Q2 2023
DENVER, June 09, 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 second quarter 2023. The distribution will be payable on June 28, 2023 to shareholders of record on June 21, 2023.
“We are very pleased to announce that net income for the quarter ending March 31, 2023 was $0.62 per share, well in excess of the quarterly distribution rate of $0.39 per share. Once again, the Fund continues to consistently over-earn its 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.
About ArrowMark Financial Corp.
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. BANX 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 Company with the SEC are accessible on the SEC's website at www.sec.gov and on the Company'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.
