Ares Capital stock: Q3 core EPS slips as dividend stays at 48 cents
Published on 10/30/2026 at 19:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSDividend Holds Despite Earnings Pressure
- Core earnings declined from the year-earlier quarter, while the regular dividend remained unchanged.
- Portfolio investments and net asset value per share ended below their December 2025 levels.
- Management cited stronger transaction activity entering the fourth quarter and a sizeable investment backlog.
On October 27, 2026, Ares Capital announced third-quarter results for the period ended September 30 and declared a fourth-quarter dividend of 48 cents per share. The Ares Capital release said the payment is due on December 29 to shareholders of record on December 15.
Core EPS, a non-GAAP measure, was 46 cents, down from 50 cents in the year-earlier quarter. GAAP net income per share was 44 cents, compared with 57 cents a year earlier, while net investment income declined to USD 328 million from USD 338 million.
Slower Activity Weighs On Results
Total investment income fell to USD 763 million from USD 782 million. Capital structuring service fees declined to USD 23 million from USD 48 million, while dividend income rose to USD 160 million from USD 141 million. Ares Capital said the slower transaction environment led to a more measured pace of originations during the quarter.
Gross investment commitments reached USD 2.1 billion, including USD 1.6 billion funded, while exits of investment commitments totaled USD 2.5 billion. The portfolio comprised 636 companies at quarter-end, and loans on non-accrual status represented 2.4 percent of investments at amortized cost and 1.4 percent at fair value.
Dividend And Balance Sheet Focus
Net asset value per share stood at USD 19.31 at September 30, down from USD 19.94 at December 31, 2025. The debt-to-equity ratio was 1.11 times, or 1.06 times net of available cash. Ares Capital also reported approximately USD 6.9 billion of available borrowing capacity and about USD 2.5 billion in investment backlog as of October 22.
Management said transaction activity was strengthening as the fourth quarter began. The company also pointed to the expected benefit of higher yields and its announced acquisition of MidCap Financial Investment Corporation as support for its regular dividend.
The real-time quote of Ares Capital stock traded at 17.01 euros on Lang & Schwarz at 19:34 CEST on Friday, October 30, 2026.
Ares Capital Corporation at a Glance
- Company: Ares Capital Corporation
- ISIN: US04010L1035
- Ticker: ARCC
- Home exchange: Nasdaq
- Lang & Schwarz quote: 17.01 euros at 19:34 CEST on October 30, 2026
- Market capitalization: USD 13.7 billion as of October 30, 2026
- Fourth-quarter dividend: USD 0.48 per share, payable December 29, 2026
The broader U.S. market context is covered through the S&P 500.
More news and analyses on Ares Capital stock are available in the company coverage.
