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Ares Capital Corp (ARCC) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

Ares Capital Corp

CIK: 1287750 Ticker: ARCC

Exhibit 99.1

arescapcorplogoa01a02a23.jpg
 
ARES CAPITAL CORPORATION ANNOUNCES MARCH 31, 2020 FINANCIAL RESULTS
AND DECLARES SECOND QUARTER 2020 DIVIDEND OF $0.40 PER SHARE
 
DIVIDEND DECLARATIONS
 
New York, NY — May 5, 2020 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced that its Board of Directors has declared a second quarter dividend of $0.40 per share. The second quarter dividend is payable on June 30, 2020 to stockholders of record as of June 15, 2020.
 
MARCH 31, 2020 FINANCIAL RESULTS
 
Ares Capital also announced financial results for its first quarter ended March 31, 2020.
 
HIGHLIGHTS

 Financial 
 
 
Q1-20
 
Q1-19
 
(dollar amounts in millions, except per share data)
 
Total Amount
 
Per Share(1)
 
Total Amount
 
Per Share(1)
 
Core EPS(2)
 
 
 
$
0.41

 
 
 
$
0.48

 
GAAP net income (loss) per share
 
 
 
$
(1.42
)
 
 
 
$
0.50

 
Net investment income
 
$
234

 
$
0.54

 
$
201

 
$
0.47

 
Net realized gains
 
$
34

 
$
0.08

 
$
56

 
$
0.13

 
Net unrealized losses
 
$
(880
)
 
$
(2.04
)
 
$
(43
)
 
$
(0.10
)
 
GAAP net income (loss)
 
$
(612
)
 
$
(1.42
)
 
$
214

 
$
0.50

 
Dividends declared and payable
 
 
 
$
0.40

 
 
 
$
0.42

(3)
 
 
As of
(dollar amounts in millions, except per share data)
 
March 31, 2020
 
December 31, 2019
 
March 31, 2019
Portfolio investments at fair value
 
$
14,370

 
$
14,426

 
$
13,064

Total assets
 
$
15,806

 
$
14,905

 
$
13,962

Stockholders’ equity
 
$
6,583

 
$
7,467

 
$
7,339

Net assets per share
 
$
15.58

 
$
17.32

 
$
17.21

Debt/equity ratio
 
1.26x

 
0.95x

 
0.86x

____________________________________________ 
(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 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 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 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 first quarter ended March 31, 2019.



1

The following information was filed by Ares Capital Corp (ARCC) on Tuesday, May 5, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ares Capital Corp provided additional information to their SEC Filing as exhibits

Ticker: ARCC
CIK: 1287750
Form Type: 10-Q Quarterly Report
Accession Number: 0001287750-20-000022
Submitted to the SEC: Tue May 05 2020 6:08:21 AM EST
Accepted by the SEC: Tue May 05 2020
Period: Tuesday, March 31, 2020
Industry: 1287750

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