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

ArrowMark Financial Corp. (NASDAQ:BANX) announced a quarterly dividend on Friday, December 6th,Wall Street Journal reports. Shareholders of record on Thursday, December 26th will be given a dividend of 0.45 per share by the investment management company on Friday, January 3rd. This represents a $1.80 annualized dividend and a yield of 8.62%. The ex-dividend date of this dividend is Thursday, December 26th.

ArrowMark Financial has raised its dividend payment by an average of 11.4% per year over the last three years.

ArrowMark Financial Price Performance

Shares of BANX stock traded down $0.07 during trading hours on Friday, reaching $20.87. 10,355 shares of the company were exchanged, compared to its average volume of 18,862. ArrowMark Financial has a fifty-two week low of $17.04 and a fifty-two week high of $21.67. The stock’s fifty day moving average is $20.55 and its two-hundred day moving average is $19.75.

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.