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Ares Capital Corporation Declares Third Quarter 2014 Dividend Of $0.38 Per Share And Announces June 30, 2014 Financial Results

Ares Capital Corporation (“Ares Capital”) (NASDAQ:ARCC) announced that its Board of Directors has declared a third quarter dividend of $0.38 per share, payable on September 30, 2014 to stockholders of record as of September 15, 2014.

JUNE 30, 2014 FINANCIAL RESULTS

Ares Capital also announced financial results for its second quarter ended June 30, 2014.

HIGHLIGHTS

Financial

       
Q2-14 Q2-13
(in millions, except per share data) Total Amount   Per Share(1) Total Amount     Per Share(1)
Core EPS (2) $ 0.34 $ 0.38
Net investment income $ 92.0 $ 0.31 $ 93.6 $ 0.35
Net realized gains (losses) $ (48.5

)

 

$ (0.16

)

 

$ 8.6 $ 0.03
Net unrealized gains $ 99.3 $ 0.33 $ 31.3 $ 0.12
GAAP net income $ 142.8 $ 0.48 $ 133.5 $ 0.50
Dividends declared and payable $ 0.38 $ 0.38
 
         
As of June 30, As of December 31,
(in millions, except per share data) 2014     2013 2013
Portfolio investments at fair value $   8,067.9 $   6,815.0 $   7,632.9
Total assets $ 8,560.2 $ 7,130.8 $ 8,141.5
Stockholders’ equity $ 4,933.6 $ 4,348.0 $ 4,904.4
Net assets per share $ 16.52 $ 16.21 $ 16.46
 

(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 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 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.

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