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  • Writer's pictureShernel Thielman

On October 31, 2023, Ares Management Corp (NYSE:ARES) released its financial results for Q3

On the 31st of October 2023, Ares Management Corp (NYSE:ARES) disclosed its financial outcomes for the third quarter, concluding on the 30th of September 2023. The company reported a notable GAAP net income, amounting to $61.8 million, attributable to Ares Management Corporation.

For the quarter, ARES's after-tax realized income totaled $261.1 million, resulting in an after-tax realized income per share of Class A and non-voting common stock at an impressive $0.83. Moreover, the company demonstrated strong fee-related earnings, reaching $274.2 million during this period.

One of the highlights was Ares's outstanding achievement in fundraising, securing the second-highest quarter of commitments, surpassing a staggering $22 billion. This success was a testament to their consistent performance across various market cycles and their esteemed position as a leader in global private credit strategies. Additionally, the company's deployment throughout the quarter displayed a notable upward trend, marking continued improvement compared to previous quarters.

In a show of commitment to its shareholders, Ares declared a quarterly dividend of $0.77 per share for its Class A and non-voting common stock. The dividend is scheduled to be paid on the 29th of December 2023, with the record date set on the 15th of December 2023. Furthermore, Ares has put in place a Dividend Reinvestment Program, ensuring its Class A common stockholders can efficiently reinvest in the company's growth through the quarterly dividend on December 29, 2023. This article is for informational purposes only and does not constitute investment advice or an offer to buy or sell securities. Investors should conduct their own research and consider seeking professional advice before making investment decisions. The performance discussed may not be indicative of future results. The author and the publishing platform do not assume any liability for financial losses or damages resulting from the use of this information.

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