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Ares Capital Corporation (NASDAQ:ARCC), a $15 billion market cap business development company with an attractive 8.9% dividend yield, reported on Tuesday the results of its annual meeting of stockholders, which took place on Monday. According to InvestingPro data, the company maintains a GOOD overall financial health score, supported by strong revenue growth of 12% in the last twelve months. The company announced that three Class III directors were elected to serve until the 2028 annual meeting. Additionally, stockholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
The elected directors are Daniel G. Kelly, Jr., Eric B. Siegel, and R. Kipp deVeer. The voting results for the directors were as follows: Kelly received 172,260,489 votes for, 65,826,050 against, and 3,271,459 abstentions; Siegel garnered 163,621,775 votes for, 74,505,401 against, and 3,230,822 abstentions; deVeer obtained 227,588,477 votes for, 10,614,814 against, and 3,154,707 abstentions. There were 243,790,279 broker non-votes for each nominee.
The ratification of KPMG LLP as the company’s auditor was approved with 470,366,371 votes for, 9,839,632 against, and 4,942,274 abstentions.
The total number of shares entitled to vote at the meeting was 681,588,467, based on the shares outstanding as of the record date, March 5, 2025. The press release did not disclose the specific details regarding the percentage of shares represented at the meeting or the exact number of votes cast for each proposal.
The information reported is based on the company’s recent SEC filing and reflects the company’s commitment to transparency in its corporate governance practices. Trading at a P/E ratio of 10.7, the stock presents interesting metrics for value investors. For detailed analysis and additional insights, check out the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, Ares Capital Corporation reported its Q1 2025 earnings, highlighting a stable financial performance amid market volatility. The company achieved a GAAP net income per share of $0.60 and core earnings per share of $0.50, a slight decline from the previous quarter. Despite the decrease in core earnings, Ares Capital maintained its quarterly dividend at $0.48 per share, marking its 63rd consecutive quarter of stable or increasing dividends. The total portfolio at fair value increased by 1.5% to $27.1 billion, and the company expanded its revolving credit facility to $5.3 billion. Analysts from Wells Fargo (NYSE:WFC) Securities and Compass Point engaged with Ares Capital’s leadership during the earnings call, addressing concerns over market volatility and the impact of tariffs. The company remains focused on its core middle market segment, originating $3.5 billion in new investment commitments. Ares Capital’s strategic focus and strong liquidity position it well for continued investment opportunities despite challenges in the current economic environment.
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