Ares Capital Corporation Announces June 30, 2026 Financial Results And Declares Third Quarter 2026 Dividend Of $0.48 Per Share

Ares Capital Corporation ("Ares Capital") (Nasdaq: ARCC) announced that its Board of Directors has declared a third quarter 2026 dividend of $0.48 per share. The third quarter 2026 dividend is payable on September 30, 2026 to stockholders of record as of September 15, 2026. JUNE 30, 2026 FINANCIAL RESULTS Ares Capital also announced financial results for its second quarter ended June 30, 2026. OPERATING RESULTS Q2-26(3) Q2-25(3) (dollar amounts in millions, except per share data) Total Amount Per Share Total Amount Per Share GAAP net income per share(1) $ 0.24 $ 0.52 Core EPS(2) $ 0.47 $ 0.50 Dividends declared and payable $ 0.48 $ 0.48 Net investment income(1) $ 359 $ 0.50 $ 342 $ 0.49 Net realized gains (losses)(1) $ (5) $ (0.01) $ 34 $ 0.05 Net unrealized losses(1) $ (183) $ (0.25) $ (15) $ (0.02) GAAP net income(1) $ 171 $ 0.24 $ 361 $ 0.52 As of (dollar amounts in millions, except per share data) June 30, 2026 December 31, 2025 Portfolio investments at fair value $ 29,349 $ 29,485 Total assets $ 30,498 $ 31,235 Stockholders' equity $ 13,891 $ 14,318 Net asset value per share $ 19.35 $ 19.94 Debt/equity ratio 1.15x 1.12x Debt/equity ratio, net of available cash(4) 1.12x 1.08x (1) All per share amounts and weighted average shares outstanding are basic and diluted. The basic and diluted weighted average shares outstanding for the three months ended June 30, 2026 and 2025 were approximately 718 million and 695 million, respectively. (2) Core EPS is a non-GAAP financial measure. Core EPS is the net increase (decrease) in stockholders' equity resulting from operations, and excludes net realized and unrealized gains and losses, any capital gains incentive fee attributable to such net realized and unrealized gains and losses and any income taxes (including excise taxes) related to such net realized gains and losses, divided by the basic weighted average shares outstanding for the relevant period. GAAP net income (loss) per share is the most directly comparable GAAP financial measure. Ares Capital believes that Core EPS provides useful information to investors regarding financial performance because it is one method Ares Capital uses to measure its financial condition and results of operations. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. Reconciliations of GAAP net income, the most directly comparable GAAP financial measure, to Core EPS are set forth in Schedule 1 hereto. (3) 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. (4) Computed as total principal debt outstanding less available cash divided by stockholders' equity. Available cash excludes restricted cash as well as cash held for uses specifically designated for paying interest and expenses on certain debt. "We reported solid second quarter results, supported by consistent Core Earnings, healthy portfolio performance and historically low levels of non-accruing loans and problem assets," said Kort Schnabel, Chief Executive Officer of Ares Capital. "In the slower transaction environment of the second quarter, our scale, stable capital base and longstanding borrower relationships enabled us to capture enhanced economics in attractive credits while remaining highly selective. Given our market leadership and competitive advantages, we remain well positioned to continue to generate attractive long-term shareholder returns, anchored by 17 years of stable or increasing regular quarterly dividends." "We continued to enhance our balance sheet during the second quarter by raising approximately $1.2 billion of additional financing, including the upsizing and extension of two of our bank-led revolving credit facilities, while improving the economics of our largest revolving credit facility," said Scott Lem, Chief Financial Officer of Ares Capital. "During the quarter, we also launched the first commercial paper program in the BDC sector, establishing access to a lower-cost... Read more

Older articles featuring ARCC: