Investor Presentaiton
History of Growing and Consistent Dividends
Dividend History¹
($ per share)
Supplemental dividend
of $0.02 in 2021
$0.36
$0.35 $0.35 $0.35
$0.34
$0.33
$0.33 $0.33 $0.33 $0.33 $0.33 $0.33
$0.33
$0.32
$0.31
$0.30
$0.29
$0.28 $0.28
$0.28
$0.27 $0.27
$0.27
$0.27
$0.26
Q1
Q2
Q3
2017
2017
2017
Q4
2017
Q1
2018
Q2
2018
Q3
2018
Q4
Q1 Q2 Q3
2018 2019 2019 2019
Q4 Q1 Q2 Q3 Q4
2019 2020 2020 2020 2020
Q1 Q2 Q3
2021 2021 2021
Dividend
Coverage
($ per share)
1.0x
1.
نه
Full Dividend Coverage from Distributable Earnings²
1.2x
1.1x
1.0x
1.1x
$1.54
$1.43
$1.41
$1.36
$1.13
Dividend
$1.32
Dividend
$1.32
Dividend
$1.38
Dividend
$1.16
Dividend
$1.08
2017
2018
2019
2020
Q3 2021 LTM
Distributable Earnings
There is no assurance that dividends will be paid at historical levels or at all.
Beginning in Q4 2020, the non-GAAP financial measure of Core Earnings was renamed to Distributable Earnings. See page 25 for Distributable Earnings definition
and page 23 for Reconciliation of Net Income to Non-GAAP Distributable Earnings.
11
ARES
COMMERCIAL REAL ESTATE CORPORATIONView entire presentation