Ares Capital Declares Additional Dividend Following Q3 Report
Business development company Ares Capital (NAS: ARCC) declared an additional dividend on the back of generally improved Q3 results it announced today. The company's bottom line came in at $137 million ($0.59 per share), which is more than triple Q3 2011's result. However, the latter period was negatively affected by more than $100 million in unrealized losses.
Although net investment income was down over that one-year period (by nearly $9 million to $89 million), Ares' total investment income rose by more than $13 million to reach $191 million.
Meanwhile, portfolio investments (measured by fair value) as of the end of the quarter saw a significant year-over-year rise of nearly 25% to $5.9 billion.
The company kept its regular quarterly dividend steady, at $0.38 per share, but tacked on an additional payout of $0.05. Both are payable on Dec. 28 of this year to shareholders of record as of Dec. 14.
The article Ares Capital Declares Additional Dividend Following Q3 Report originally appeared on Fool.com.Eric Volkman owns shares of Ares Capital. The Motley Fool has no positions in Ares Capital. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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