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

ArrowMark Financial Corp. (NASDAQ:BANX) announced a quarterly dividend on Wednesday, March 5th, Wall Street Journal reports. Stockholders 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 dividend yield of 8.51%. The ex-dividend date is Thursday, March 20th.

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

ArrowMark Financial Stock Performance

Shares of BANX opened at $21.14 on Tuesday. The stock has a fifty day moving average price of $21.06 and a 200 day moving average price of $20.80. ArrowMark Financial has a 12 month low of $17.91 and a 12 month high of $21.67.

Insider Buying and Selling

In other news, Director John Scott Emrich sold 2,500 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $21.28, for a total value of $53,200.00. Following the completion of the transaction, the director now owns 6,225 shares of the company’s stock, valued at approximately $132,468. This represents a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.53% of the stock is 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.