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

ArrowMark Financial Corp. (NASDAQ:BANX) declared a quarterly dividend on Wednesday, March 5th, Wall Street Journal reports. Shareholders of record on Thursday, March 20th will be paid a dividend of 0.45 per share by the investment management company on Thursday, March 27th. This represents a $1.80 dividend on an annualized basis and a yield of 8.51%. The ex-dividend date is Thursday, March 20th.

ArrowMark Financial has raised its dividend by an average of 5.8% annually over the last three years.

ArrowMark Financial Stock Performance

Shares of ArrowMark Financial stock opened at $21.14 on Tuesday. ArrowMark Financial has a 12-month low of $17.91 and a 12-month high of $21.67. The firm’s 50 day simple moving average is $21.06 and its two-hundred day simple moving average is $20.80.

Insider Buying and Selling at ArrowMark Financial

In other news, Director John Scott Emrich sold 2,500 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $21.28, for a total value of $53,200.00. Following the sale, the director now owns 6,225 shares in the company, valued at $132,468. This represents a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

About ArrowMark Financial

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.