Ares Management Corporation (NYSE:ARES) Q3 2023 Earnings Conference Call October 31, 2023 11:00 AM ET

Company Participants

Carl Drake - Head, Public Market Investor Relations

Michael Arougheti - Chief Executive Officer

Jarrod Phillips - Chief Financial Officer

Conference Call Participants

Craig Siegenthaler - Bank of America

Alex Blostein - Goldman Sachs

Ben Budish - Barclays

Brennan Hawken - UBS

Ken Worthington - JPMorgan

Michael Cyprys - Morgan Stanley

Patrick Davitt - Autonomous Research

Mike Brown - KBW

Operator

Welcome to Ares Management Corporation's Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. As a reminder, this conference call is being recorded on Tuesday, October 31st, 2023.

I will now turn the call over to Carl Drake, Head of Public Market Investor Relations for Ares Management.

Carl Drake

Good morning, and thank you for joining us today for our third quarter conference call. I'm joined today by Michael Arougheti, our Chief Executive Officer; and Jarrod Phillips, our Chief Financial Officer. We also have a number of senior professionals with us today who will be available during the Q&A session.

Before we begin, I want to remind you that comments made during this call contain forward-looking statements and are subject to risks and uncertainties, including those identified in our risk factors in our SEC filings. Our actual results could differ materially, and we undertake no obligation to update any such forward-looking statements.

Please also note that past performance is not a guarantee of future results and nothing on this call constitutes an offer to sell or a solicitation of an offer to purchase an interest in any Ares Fund.

During this call, we will refer to certain non-GAAP financial measures which should not be considered in isolation from or as a substitute for measures prepared in accordance with generally accepted accounting principles.

Please refer to our third quarter earnings presentation available on the Investor Resources section of our website for reconciliations of the measures to the most directly comparable GAAP measures. Note that we plan to file our Form 10-Q in the first week of November.

This morning, we announced that we declared our fourth quarter common dividend of $0.77 per share in the company's Class A and non-voting common stock, representing an increase of 26% over our dividend for the same quarter a year ago.

The dividend will be paid on December 29th, 2023, to holders of record on December 15th. Of note, we plan to update investors about our new quarterly dividends for 2024 during our fourth quarter earnings call early next year.