ArrowMark Financial Corp. (NASDAQ:BANX) Stock to Pay Monthly Dividend of $0.15

ArrowMark Financial Corp. (NASDAQ:BANX) announced a monthly dividend on Tuesday, October 13th. Stockholders of record on Friday, October 23rd will be given a dividend of $0.15 per share by the investment management company on Friday, October 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date is Friday, October 23rd.

ArrowMark Financial Trading Up 0.7%

NASDAQ:BANX opened at $20.08 on Wednesday. The company’s 50 day moving average price is $20.55 and its 200-day moving average price is $19.98. ArrowMark Financial has a 52 week low of $18.45 and a 52 week high of $22.50.

ArrowMark Financial Company Profile

ArrowMark Financial Corp. (NASDAQ: BANX) is a closed-end investment company that has elected to be regulated as a business development company. The company seeks to generate income and, to a lesser extent, capital appreciation by investing in the financial services sector.

ArrowMark Financial primarily invests in debt and equity securities issued by financial institutions, specialty finance companies and other businesses connected to the financial services industry. Its investment activities may include providing capital to banks, insurance companies, asset managers, mortgage-related businesses and other specialty finance firms through a range of privately negotiated and publicly traded securities.

The company was formerly known as StoneCastle Financial Corp.