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Ares Capital Corp (ARCC) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Ares Capital Corp

HISTORY TOOLS
CIK: 891943 Ticker: ARCC

Exhibit 99.1

arescapcorplogoa01a02a18.jpg
 
ARES CAPITAL CORPORATION ANNOUNCES DECEMBER 31, 2019 FINANCIAL RESULTS
AND DECLARES FIRST QUARTER 2020 DIVIDEND OF $0.40 PER SHARE
 
DIVIDEND DECLARATIONS
 
New York, NY — February 12, 2020 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced that its Board of Directors has declared a first quarter dividend of $0.40 per share. The first quarter dividend is payable on March 31, 2020 to stockholders of record as of March 16, 2020.
 
DECEMBER 31, 2019 FINANCIAL RESULTS
 
Ares Capital also announced financial results for its fourth quarter and year ended December 31, 2019.
 
HIGHLIGHTS

 Financial 
 
 
Q4-19
 
Q4-18
 
FY-19
 
FY-18
(dollar amounts in millions, except per share data)
 
Total Amount
 
Per Share(1)
 
Total Amount
 
Per Share(1)
 
Total Amount
 
Per Share(1)
 
Total Amount
 
Per Share(1)
Core EPS(2)
 
 
 
$
0.45

 
 
 
$
0.45

 
 
 
$
1.89

 
 
 
$
1.68

GAAP EPS
 
 
 
$
0.48

 
 
 
$
0.36

 
 
 
$
1.86

 
 
 
$
2.01

Net investment income
 
$
190

 
$
0.44

 
$
203

 
$
0.48

 
$
811

 
$
1.90

 
$
694

 
$
1.63

Net realized gains (losses)
 
$
(79
)
 
$
(0.18
)
 
$
31

 
$
0.07

 
$
(65
)
 
$
(0.15
)
 
$
419

 
$
0.98

Net unrealized gains (losses)
 
$
93

 
$
0.22

 
$
(81
)
 
$
(0.19
)
 
$
47

 
$
0.11

 
$
(255
)
 
$
(0.60
)
GAAP net income
 
$
204

 
$
0.48

 
$
153

 
$
0.36

 
$
793

 
$
1.86

 
$
858

 
$
2.01

Dividends declared and payable
 
 
 
$
0.42

(3)
 
 
$
0.39

 
 
 
$
1.68

(4)
 
 
$
1.54

 
 
As of December 31,
(dollar amounts in millions, except per share data)
 
2019
 
2018
Portfolio investments at fair value
 
$
14,426

 
$
12,417

Total assets
 
$
14,905

 
$
12,895

Stockholders’ equity
 
$
7,467

 
$
7,300

Net assets per share
 
$
17.32

 
$
17.12

Debt/equity ratio
 
0.95x

 
0.73x

____________________________________________ 
(1)
All per share amounts are basic and diluted.

(2)
Basic and diluted Core EPS is a non-GAAP financial measure. Core EPS is the net per share increase (decrease) in stockholders’ equity resulting from operations less expense reimbursement (the “Ares Reimbursement”) from Ares Capital Management LLC (“Ares Capital Management” or Ares Capital’s “investment adviser”), net realized and unrealized gains and losses, any capital gains incentive fees attributable to such net realized and unrealized gains and losses and any income taxes related to such net realized gains and losses. Basic and diluted GAAP EPS 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 basic and diluted Core EPS to the most directly comparable GAAP financial measure are set forth in Schedule 1 hereto.

(3)
Includes an additional dividend of $0.02 per share paid in the fourth quarter ended December 31, 2019.

(4)
Includes additional dividends of $0.08 per share in the aggregate paid in the year ended December 31, 2019.

1
The following information was filed by Ares Capital Corp (ARCC) on Wednesday, February 12, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Ares Capital Corp's 10-K Annual Report:
Ticker: ARCC
CIK: 1287750
Form Type: 10-K Annual Report
Accession Number: 0001287750-20-000008
Submitted to the SEC: Wed Feb 12 2020 6:22:35 AM EST
Accepted by the SEC: Wed Feb 12 2020
Period: Tuesday, December 31, 2019
Industry: 1287750

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