ArrowMark Financial Corp. Announces Quarterly Dividend of $0.45 (NASDAQ:BANX)

ArrowMark Financial Corp. (NASDAQ:BANX) declared a quarterly dividend on Monday, March 10th, Wall Street Journal reports. Shareholders of record on Thursday, March 27th will be given a dividend of 0.45 per share by the investment management company on Thursday, March 27th. This represents a $1.80 dividend on an annualized basis and a yield of 8.50%. The ex-dividend date of this dividend is Thursday, March 20th.

ArrowMark Financial has increased its dividend by an average of 5.8% per year over the last three years.

ArrowMark Financial Price Performance

Shares of BANX traded down $0.03 during mid-day trading on Monday, hitting $21.19. The company’s stock had a trading volume of 26,452 shares, compared to its average volume of 19,909. The company’s 50-day moving average is $21.04 and its 200-day moving average is $20.77. ArrowMark Financial has a 52-week low of $17.91 and a 52-week high of $21.67.

Insiders Place Their Bets

In other ArrowMark Financial news, Director John Scott Emrich sold 2,500 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $21.28, for a total transaction of $53,200.00. Following the completion of the sale, the director now directly owns 6,225 shares of the company’s stock, valued at approximately $132,468. This represents a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.

ArrowMark Financial Company Profile

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.