WASHINGTON (dpa-AFX) - Ares Capital Corp. (ARCC) released its first quarter financial results on Tuesday, reporting net income of $214 million or $0.50 per share compared to $242 million or $0.57 per share in the same quarter last year.
However, Ares Capital noted quarterly comparisons of net income may not be meaningful, as net income can vary substantially from period to period due to various factors, including the level of new investment commitments, the recognition of realized gains and losses and unrealized appreciation and depreciation.
Ares Capital reported net investment income of $201 million or $0.47 per share compared to $144 million or $0.34 per share a year ago. Core earnings climbed to $0.48 per share from $0.38 per share.
The company also declared a second quarter dividend of $0.40 per share. The second quarter dividend is payable on June 28 to stockholders of record as of June 14.
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