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BANX · ArrowMark Financial Corp.

Know the company

Company overview

ArrowMark Financial Corp. invests in income-producing assets tied to financial institutions, including bank-related credit and capital instruments. Borrower and issuer payments are useful only when the credit behind them remains sound.

Business
Preferred securities CEF
Listing
BANX · XNAS
Reporting period
2026-06-30
Dividend schedule
Monthly

How the business works

Interest and other portfolio receipts become net investment income after operating and financing costs. Credit marks, realized results and the value of financial-sector holdings affect NAV separately.

ArrowMark Financial Corp.: financial report supporting reported earnings

Dividend & earnings snapshot

Dividend payments

Per common share

$0.15Reviewed declaration · Payment Sep 30, 2026

Regular dividend

Announced Sep 11, 2026

Dates and issuer sources
Announcement
Sep 11, 2026
Declaration
Sep 11, 2026
Ex-dividend
Sep 23, 2026
Record
Sep 23, 2026
Payment
Sep 30, 2026
Source reviewed
Sep 21, 2026
$0.10Reviewed declaration · Payment Dec 31, 2026

Special dividend

Announced Sep 11, 2026

Dates and issuer sources
Announcement
Sep 11, 2026
Declaration
Sep 11, 2026
Ex-dividend
Dec 24, 2026
Record
Dec 24, 2026
Payment
Dec 31, 2026
Source reviewed
Sep 21, 2026

Extras are shown separately and are not assumed to repeat.

Reported earnings

Each measure shown separately, per share

Net investment income$0.97

Jan 1, 2026 to Jun 30, 2026

Distribution yield8.61%Sourced distributions divided by dated market price
Reported annual income yield10.49%Reported net investment income $2.2900 per share for 2025-01-01 to 2025-12-31, divided by approved 2025-12-31 market price $21.8200. Excludes capital gains; historical, not a current yield or forecast.
Annual earnings$2.29Public Researched estimate per share
Annual dividend$1.80Current regular payment annualized per share
Distribution supportSee period evidenceCash distributions, NAV and reported returns are shown separately; no earnings-coverage ratio is assigned.
Verified dividend dates and payment components

Issuer announcements supplement the recorded totals above. Each declared payment is shown separately. Additional payments are not assumed to repeat.

Verified earnings history and sources

The latest four recorded reporting periods. Each issuer measure keeps its own name and dates. These source records supplement the Fly High figures above; different measures are not added together or assumed comparable.

Reporting periodEarnings measurePer shareSource
Jan 1, 2026 to Jun 30, 2026Net investment income$0.97Issuer source 1
Announced Aug 27, 2026

Reported NAV total return by period

Full-year fund-reported NAV total return. The shorter period remains in the table above and is not joined to this trend.

Market price and NAV per share

Reviewed USD market closes or SEC-reported prices matched to NAV dates. A different price date or split adjustment is shown in the label.

Business and earnings charts

Financial snapshot: 2026-06-30. Research reviewed 2026-09-21. Source dates are retained with each measure; historical results are not a forecast.

The assets it owns

$203.494 million net assets at June 30, 2026Six reported investment categories

Gross investments were $242.309 million, including financing; net assets are after liabilities.

  • Regulatory capital relief securities86.146261%
  • Structured debt securities6.055041%
  • Term loans3.21171%
  • Trust preferred and preferred securities0.74013%
  • Common stocks3.618047%
  • Money market fund0.228811%

Six mutually exclusive categories as percentages of gross investments, reconciled to $242,308,632, not percentages of net assets.

BANX June 2026 holdings and financial highlights

Reported earnings and distributions

2026-01-01 through 2026-06-30 · $ per share

Net investment income per share$0.9700
Reported investment gain or loss per share−$0.9300
Total distributions per share$1.0000

In the first half of 2026, BANX reported $0.97 of net investment income per share and $1.00 of distributions. NAV moved from $21.96 to $21.00. The income and cash figures were close, but the lower NAV says the wider portfolio result deserves attention alongside the payment.

ArrowMark Financial Corp.: financial report supporting reported earnings

Cash distributions and reported returns

Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.

Reporting periodEnding NAVNAV changeDistributions / shareReported NAV total returnSource
Jan 1, 2026 to Jun 30, 2026$21.00-4.37%$1.00+0.61%BANX SEC financial highlights. Reported cash includes all components; partial periods are not annualized.
Jan 1, 2025 to Dec 31, 2025$21.96+0.83%$2.30+12.39%Issuer financial highlights; actual per-share reporting period. Total return is issuer-reported, not inferred from NAV change.
Jan 1, 2024 to Dec 31, 2024$21.78+1.63%$2.00+12.51%Issuer financial highlights; actual per-share reporting period. Total return is issuer-reported, not inferred from NAV change.
Jan 1, 2023 to Dec 31, 2023$21.43+3.08%$2.20+16.93%Issuer financial highlights; actual per-share reporting period. Total return is issuer-reported, not inferred from NAV change.
Jan 1, 2022 to Dec 31, 2022$20.79-4.19%$1.66+4.80%Issuer financial highlights; actual per-share reporting period. Total return is issuer-reported, not inferred from NAV change.
Jan 1, 2021 to Dec 31, 2021$21.70+1.21%$1.62+9.25%Issuer financial highlights; actual per-share reporting period. Total return is issuer-reported, not inferred from NAV change.
Jan 1, 2020 to Dec 31, 2020$21.44-1.79%$1.57+7.22%Issuer financial highlights; actual per-share reporting period. Total return is issuer-reported, not inferred from NAV change.
Jan 1, 2019 to Dec 31, 2019$21.83+1.87%$1.52+9.32%Issuer financial highlights; actual per-share reporting period. Total return is issuer-reported, not inferred from NAV change.
Jan 1, 2018 to Dec 31, 2018$21.43-0.60%$1.66+7.65%Issuer financial highlights; actual per-share reporting period. Total return is issuer-reported, not inferred from NAV change.
Jan 1, 2017 to Dec 31, 2017$21.56+1.60%$1.50+9.62%Issuer financial highlights; actual per-share reporting period. Total return is issuer-reported, not inferred from NAV change.
Jan 1, 2016 to Dec 31, 2016$21.22-1.85%$1.46+6.53%Issuer financial highlights; actual per-share reporting period. Total return is issuer-reported, not inferred from NAV change.

NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.

Distribution and NAV evidence

Cash paid, opening and closing NAV, and the fund-reported NAV total return are separate observations. NAV change excludes distributions. These figures show outcomes, not which source funded a payment or whether future distributions are sustainable. Net investment income excludes investment gains and is not a payout-coverage ratio.

Reporting period and filingNet investment income/shareCash distributions/shareOpening NAVClosing NAVNAV changeReported NAV total return
2016-01-01 to 2016-12-31 $1.56 $1.46 $21.62 $21.22 -1.85% 6.53%
2017-01-01 to 2017-12-31 $1.58 $1.50 $21.22 $21.56 1.60% 9.62%
2018-01-01 to 2018-12-31 $1.63 $1.66 $21.56 $21.43 -0.60% 7.65%
2019-01-01 to 2019-12-31 $1.54 $1.52 $21.43 $21.83 1.87% 9.32%
2020-01-01 to 2020-12-31 $1.68 $1.57 $21.83 $21.44 -1.79% 7.22%
2021-01-01 to 2021-12-31 $1.60 $1.62 $21.44 $21.70 1.21% 9.25%
2022-01-01 to 2022-12-31 $1.84 $1.66 $21.70 $20.79 -4.19% 4.80%
2023-01-01 to 2023-12-31 $2.63 $2.20 $20.79 $21.43 3.08% 16.93%
2024-01-01 to 2024-12-31 $2.65 $2.00 $21.43 $21.78 1.63% 12.51%
2025-01-01 to 2025-12-31 $2.29 $2.30 $21.78 $21.96 0.83% 12.39%
2026-01-01 to 2026-06-30 $0.97 $1.00 $21.96 $21.00 -4.37% 0.61%

Risk monitor

RiskCurrent conditionDirectionWhy it matters
Portfolio riskLosses or weaker cash generation in preferred and financial-sector securities can reduce the resources available for future distributions.MonitorA change can affect future shareholder cash payments or the capital supporting them.
Leverage and financingThe current data service reports effective leverage of 16.80%. Financing magnifies gains and losses, and borrowing costs reduce income available to common shareholders.MonitorA change can affect future shareholder cash payments or the capital supporting them.

The assets behind the earnings

How BANX makes money

Financial snapshot: 2026-06-30. Research reviewed 2026-09-21. Source dates are retained with each measure; historical results are not a forecast.

The income-producing business

Portfolio dividends and interest, realized investment results and any option activity contribute to distribution resources after expenses. A declared distribution can include gains or return of capital as well as investment income; its amount is not an earnings figure.

The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.

ArrowMark Financial Corp.: financial report supporting reported earnings

Financing can amplify income and losses

The June 30, 2026 financial highlights show $40.8 million of credit-facility borrowing and $203.494 million of net assets.

Financing can increase earning assets, but its cost reduces income available to common shareholders. When borrowing costs rise or portfolio income falls, the distribution can become harder to sustain.

BANX June 2026 holdings and financial highlights

What the reported earnings support

ArrowMark Financial Corp. reported $0.9700 per share for 2026-01-01 through 2026-06-30, measured as Fund net investment income per common share; actual reporting period, not annualized.

Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.

ArrowMark Financial Corp.: financial report supporting reported earnings

Portfolio risk

Losses or weaker cash generation in preferred and financial-sector securities can reduce the resources available for future distributions.

Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.

ArrowMark Financial Corp.: financial report supporting reported earnings

Distribution sustainability

A maintained payment can exceed investment results. Review NAV and reported income together rather than treating distribution yield as total return.

Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.

ArrowMark Financial Corp.: financial report supporting reported earnings

What would change the earnings picture?

Compare the next like-length income and cash figures, then examine bank credit, asset marks, financing costs and NAV for what changed.

Net asset value (NAV)

NAV per share$21.0000Aug 31, 2026
Market price$20.9000Sep 18, 2026
PREMIUM / DISCOUNT TO NAVUnavailableUnavailable: requires valid positive NAV and market price from the same date.

NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.

ArrowMark estimated and unaudited common-share NAV as of 2026-08-31. The newer saved market price is preserved. No premium or discount is calculated from different dates. Older audited NAV history remains unchanged.

NAV source · Market-price source

Current evidence and recent developments

  • Reported investment income was $0.97 per share for the first half of 2026, versus $1.00 of total distributions, a historical comparison of 97.00%.
  • The regular monthly distribution is $0.15; a separate $0.10 special payment is scheduled for December 31, 2026.
  • The annualized latest half-year income rate is not a forecast and differs from the historical full-year income yield.

What to watch next

  • Compare the next like-length income and cash figures, then examine bank credit, asset marks, financing costs and NAV for what changed.

Fly High context

Compare the next like-length income and cash figures, then examine bank credit, asset marks, financing costs and NAV for what changed.

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U.S. federal · Tax year 2025

Dividend tax treatment

The issuer designates $2.30 per share as taxable ordinary income for 2025, with none eligible for qualified-dividend treatment.

Ordinary, nonqualified
100%
Qualified dividends
0%
Capital-gain distributions
0%
Return of capital
0%

Tax year: 2025. Total distributions: $2.30 per share.

Tax details and source
Total ordinary dividends (includes qualified)
100%
Section 199A portion (within ordinary dividends)
Not confirmed
Exempt-interest distributions
0%
Reporting form
Form 1099-DIV
Source date
Not stated

Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.

Tax source

Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.

Public Research updated September 30, 2026 6:17 pm

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