ArrowMark Financial Corp. (NASDAQ:BANX – Get Rating) declared a None dividend on Friday, December 16th, investing.com reports. Stockholders of record on Thursday, December 29th will be paid a dividend of 0.49 per share by the investment management company on Thursday, January 5th. This represents a dividend yield of 11.34%. The ex-dividend date of this dividend is Wednesday, December 28th.
ArrowMark Financial has decreased its dividend payment by an average of 0.8% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. ArrowMark Financial has a dividend payout ratio of 70.0% indicating that its dividend is sufficiently covered by earnings.
Get ArrowMark Financial alerts:ArrowMark Financial Stock Performance
Shares of NASDAQ:BANX traded up $0.15 during midday trading on Tuesday, reaching $17.80. 117 shares of the company's stock traded hands, compared to its average volume of 15,815. ArrowMark Financial has a 1 year low of $16.32 and a 1 year high of $24.19. The company has a market cap of $126.38 million, a P/E ratio of 33.59 and a beta of 0.55. The company has a fifty day simple moving average of $17.21 and a two-hundred day simple moving average of $17.97.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. UBS Group AG acquired a new position in ArrowMark Financial in the 2nd quarter valued at $36,000. Millennium Management LLC acquired a new position in ArrowMark Financial in the 2nd quarter valued at $275,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in ArrowMark Financial in the 1st quarter valued at $322,000. 24.77% of the stock is owned by institutional investors and hedge funds.About ArrowMark Financial
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ArrowMark Financial Corp. is a closed-end balanced mutual fund launched and managed by ArrowMark Asset Management, LLC. It invests in public equity and fixed income markets of global region. For its equity portion, the fund invests in stocks of companies operating across financials, banks sectors. It invests in growth and value stocks of companies across diversified market capitalization.
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