Ares Capital Reports Q3 2026 Financial Results and Declares $0.48 Q4 Dividend

Ares Capital Corporation (NASDAQ: ARCC) Form 8-K Filing Analysis

Overview

On October 27, 2026, Ares Capital Corporation filed a Form 8-K disclosing its financial results for the third quarter ended September 30, 2026 (Item 2.02), and announcing its regular fourth quarter dividend declaration (Item 8.01).

Key Financial Highlights (Q3 2026 vs. Q3 2025)

• Net Investment Income (NII): $328 million ($0.46 per share) compared to $338 million ($0.48 per share) in Q3 2025.
• Core EPS (Non-GAAP): $0.46 per share compared to $0.50 per share in Q3 2025.
• GAAP Net Income: $319 million ($0.44 per share) compared to $404 million ($0.57 per share) in Q3 2025.
• Net Realized & Unrealized Performance: Net realized losses of $(52) million ($(0.07)/share) offset by net unrealized gains of $43 million ($0.05/share).
• Net Asset Value (NAV): $19.31 per share as of September 30, 2026, down from $19.94 per share as of December 31, 2025.

Dividend Announcement

• Dividend Amount: $0.48 per share for Q4 2026 (unchanged from prior quarters).
• Record Date: December 15, 2026
• Payment Date: December 29, 2026
• Coverage: Core EPS and NII of $0.46 per share slightly trail the declared dividend of $0.48 per share for the quarter.

Balance Sheet and Portfolio Metrics

• Total Portfolio Investments at Fair Value: $29.21 billion (compared to $29.49 billion at year-end 2025).
• Total Assets: $30.60 billion.
• Stockholders' Equity: $13.95 billion.
• Leverage: Debt-to-equity ratio stood at 1.11x (1.06x net of available cash), compared to 1.12x (1.08x net) as of December 31, 2025.
• Portfolio Composition: 636 portfolio companies with 70% in floating rate securities at fair value.
• Weighted Average Yield: 10.8% at fair value on debt and other income-producing securities (9.6% across total investments at fair value).
• Investment Activity: Gross commitments of $2.11 billion against exits of $2.47 billion during Q3 2026.