Business Context and Reporting Period
Company: Ares Capital Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: February 27, 2012
Subject: Notice of amendment and restatement of the Company's Dividend Reinvestment Plan.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The report is administrative in nature.
Material Changes
The Company announced changes to its Dividend Reinvestment Plan effective March 28, 2012:
- Administrator Change: The Bank of New York Mellon has been replaced by Computershare Shareowner Services LLC as the Plan Administrator following its acquisition by Computershare Limited.
- Share Calculation Method: For shares purchased in the open market, the number of shares issued to a stockholder will be determined by dividing the cash dividend amount by the weighted average price per share for all shares purchased by the Plan Administrator in connection with that dividend.
Guidance, Outlook, and Risks
Outlook: The amended Plan will apply to all dividends paid on or after March 28, 2012.
Risks/Contingencies: No specific risks or contingencies were disclosed in this filing. The full text of the Amended and Restated Dividend Reinvestment Plan is filed as Exhibit 10.1.
Investor Verification Checklist
- Confirm the effective date of the new Plan Administrator (March 28, 2012).
- Review Exhibit 10.1 for the complete terms of the Amended and Restated Dividend Reinvestment Plan.
- Verify how the new weighted average price calculation impacts dividend reinvestment yields compared to the previous method.