WASHINGTON (dpa-AFX) - Ares Capital Corporation (ARCC), an alternative investment manager, Tuesday reported net income of $322 million or $0.52 per share, higher than $331 million or $0.61 per share in the comparable quarter last year, driven mainly by increase in investment income.
Excluding one-time items, core earnings were $0.61 per share, that beat the analysts' average estimate of $0.58 per share. Analysts' estimates typically exclude special items.
Net investment income was $358 million, up from $314 million in the previous year.
Total investment income increased to $755 million from $634 million a year ago.
The company's Board has declared a third-quarter dividend of $0.48 per share, to be paid on September 30, to stockholders of record on 13, 2024.
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