Last $17.15 USD
Change Today +0.05 / 0.29%
Volume 1.6M
ARCC On Other Exchanges
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As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

ares capital corp (ARCC) Snapshot

Open
$17.10
Previous Close
$17.10
Day High
$17.24
Day Low
$17.07
52 Week High
02/24/14 - $18.58
52 Week Low
08/5/14 - $16.21
Market Cap
5.4B
Average Volume 10 Days
1.4M
EPS TTM
$1.54
Shares Outstanding
314.1M
EX-Date
09/11/14
P/E TM
11.1x
Dividend
$1.52
Dividend Yield
9.45%
Current Stock Chart for ARES CAPITAL CORP (ARCC)

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ares capital corp (ARCC) Details

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors. The fund will also consider investments in industries such as restaurants, retail, oil and gas, and technology sectors. It focuses on investments in Northeast, Mid-Atlantic, Southeast and Southwest regions from its New York office, the Midwest region, from the Chicago office, and the Western region from the Los Angeles office. The fund typically invests between $20 million and $200 million and a maximum of $400 million in companies with an EBITDA between $10 million and $250 million. It makes debt investments between $10 million and $100 million The fund invests through revolvers, first lien loans, warrants, unitranche structures, second lien loans, mezzanine debt, private high yield, junior capital, subordinated debt, and non-control preferred and common equity. The fund also selectively considers third-party-led senior and subordinated debt financings and opportunistically considers the purchase of stressed and discounted debt positions. The fund prefers to be an agent and/or lead the transactions in which it invests. The fund also seeks board representation in its portfolio companies.

ares capital corp (ARCC) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: --
Co-President
Total Annual Compensation: --
Co-President
Total Annual Compensation: --
Co-Founder and Co-Chairman
Total Annual Compensation: --
Co-Founder
Total Annual Compensation: --
Compensation as of Fiscal Year 2014.

ares capital corp (ARCC) Key Developments

Ares Capital Corporation Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2014

Ares Capital Corporation announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2014. For the second quarter, total investment income was $224,927,000, compared to $206,123,000 for the last year. Net investment income before income taxes was $94,914,000, compared to $97,496,000 for the last year. Net investment income was $91,991,000, compared to $93,577,000 for the last year. Net increase in stockholders' equity resulting from operations was $142,831,000, compared to $133,498,000 for the last year. Basic and diluted earnings per common share were $0.48 compared to $0.50 for the last year. Basic and diluted core EPS was $0.34 compared to $0.38 for the last year. Net income can vary substantially from period to period due to various factors, including the level of new investment commitments, the recognition of realized gains and losses and unrealized appreciation and depreciation. As a result, quarterly comparisons of net income may not be meaningful. Net realized and unrealized gains totaled $51 million or $0.17 per share for the second quarter, largely driven by net unrealized appreciation in the portfolio. Net asset value per share was $16.52, up from $16.42 at the end of the first quarter of 2014. The core earnings were also impacted by the timing of originations and repayments during the quarter, which slowed the growth of interest income. For the six months, total investment income was $464,646,000, compared to $401,178,000 for the last year. Net investment income before income taxes was $212,630,000, compared to $200,397,000 for the last year. Net investment income was $204,327,000, compared to $192,674,000 for the last year. Net increase in stockholders' equity resulting from operations was $259,823,000, compared to $213,840,000 for the last year. Basic and diluted earnings per common share were $0.87 compared to $0.83 for the last year.

Ares Capital Corporation Declares Third Quarter Dividend, Payable on September 30, 2014

Ares Capital Corporation announced that its Board of Directors has declared a third quarter dividend of $0.38 per share, payable on September 30, 2014 to stockholders of record as of September 15, 2014.

Ares Capital Corporation Announces Management Changes

Ares Capital Corporation announced that its Board of Directors has named Michael J. Arougheti as Co-Chairman of the Board and promoted three of its longstanding senior executive officers. Michael J. Arougheti will assume the role of Co-Chairman of the Board of Ares Capital Corporation, joining current Chairman Bennett Rosenthal. Mr. Arougheti has served as a director since 2009 and has also served as Chief Executive Officer of Ares Capital Corporation since May 2013 and prior to that as President since its IPO in 2004. Mr. Arougheti currently serves as President of Ares Management, L.P., a global alternative asset manager, and will continue to serve as a Senior Partner and Co-Head of the Direct Lending Group, as a member of Ares Management's Board of Directors and Management Committee as well as a member of the Investment Committee of Ares Capital Management LLC, Ares Capital Corporation's investment adviser. Mr. Arougheti is a Co-Founder of Ares Management and has been a senior executive since 2004. Kipp deVeer has been promoted to Chief Executive Officer of Ares Capital Corporation. Mr. deVeer was named President of Ares Capital Corporation in May 2013. Mr. deVeer will continue to serve as a Senior Partner and Co-Head of the Direct Lending Group of Ares Management as well as a member of both Ares Management's Management Committee and Ares Capital Management's Investment Committee. Mr. deVeer has been a senior executive with Ares Management since 2004. Mitchell S. Goldstein has been promoted to Co-President of Ares Capital Corporation after serving as Executive Vice President since May 2013. Mr. Goldstein will also continue to serve as a Senior Partner in the Direct Lending Group of Ares Management and as a member of Ares Capital Management's Investment Committee. Mr. Goldstein has been a senior executive with Ares Management since 2005. Michael L. Smith has been promoted to Co-President of Ares Capital Corporation after serving as Executive Vice President since May 2013. Mr. Smith will also continue to serve as a Senior Partner in the Direct Lending Group of Ares Management and as a member of Ares Capital Management's Investment Committee. Mr. Smith has been a senior executive with Ares Management since 2004.

 

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