BANX - ArrowMark Financial Corp. Announces Long Term Capital Gain Distribution of $0.42 Per Share | Benzinga
DENVER, Sept. 15, 2023 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp., (NASDAQ:BANX) ("ArrowMark Financial" or the "Fund"), today announced that its Board of Directors declared a long term capital gain distribution of $0.42 per share, which represents the long term capital gains generated in the fiscal year ended December 31, 2022. This distribution is required in order to meet Regulated Investment Company and IRS excise tax requirements and avoid taxes at the Fund level.
"While this distribution reflects the long term capital gains realized in the Fund, it also highlights the team's ability to execute on a disciplined investment process while generating income for shareholders. The recently announced distribution rate increase, combined with this capital gains distribution reflects ArrowMark Financial's commitment ...