Ares Capital Corporation (NASDAQ:ARCC – Get Free Report) announced a quarterly dividend on Wednesday, July 29th. Investors of record on Tuesday, September 15th will be given a dividend of 0.48 per share by the investment management company on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 10.3%. The ex-dividend date is Tuesday, September 15th.
Ares Capital has raised its dividend by an average of 0.0%annually over the last three years. Ares Capital has a payout ratio of 96.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Ares Capital to earn $1.94 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 99.0%.
Ares Capital Price Performance
Shares of NASDAQ ARCC traded down $0.33 during trading hours on Wednesday, hitting $18.71. 4,388,887 shares of the stock were exchanged, compared to its average volume of 6,357,691. The company’s fifty day simple moving average is $18.67 and its two-hundred day simple moving average is $18.93. The company has a market cap of $13.43 billion, a PE ratio of 11.48 and a beta of 0.56. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.40 and a current ratio of 1.40. Ares Capital has a 1-year low of $17.40 and a 1-year high of $22.93.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of ARCC. Palladiem LLC acquired a new position in shares of Ares Capital during the fourth quarter valued at about $26,000. SWAN Capital LLC purchased a new position in shares of Ares Capital during the third quarter valued at approximately $27,000. Sankala Group LLC bought a new stake in shares of Ares Capital in the 4th quarter worth $28,000. Core Wealth Advisors LLC bought a new stake in Ares Capital in the 4th quarter worth about $33,000. Finally, Quarry LP purchased a new stake in shares of Ares Capital during the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 27.38% of the company’s stock.
Ares Capital Company Profile
Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.
Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.
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