HOUSTON, March 24, 2011 /PRNewswire/ -- Sanders Morris
Harris Group Inc. (Nasdaq: SMHG) today announced that its Board of
Directors declared a regular quarterly cash dividend in the amount
of $0.05 per share of common
stock. The dividend will be payable on April 18, 2011 to common shareholders of record
at the close of business on April 4,
2011.
While Sanders Morris Harris Group intends to declare dividends
in subsequent quarters, any future dividends will be at the
discretion of the Board of Directors after taking into account
various factors, including general economic and business
conditions, tax considerations, its strategic plans, its financial
results and condition, its expansion plans, any contractual, legal
or regulatory restrictions on the payment of dividends, and such
other factors the Board considers relevant.
About Sanders Morris Harris Group
Sanders Morris Harris Group is a wealth management company that
manages approximately $17.1 billion
in client assets. Client assets include the gross value of assets
under management directly or via outside managers and assets held
in brokerage accounts for clients by outside clearing firms. Its
corporate philosophy of investment in common aligns its interests
with those of its clients. Sanders Morris
Harris has approximately 530 employees in 25 states.
Additional information is available at www.smhgroup.com.
In addition to the historical information, this press release
contains certain forward-looking statements under federal
securities laws, including statements regarding Sanders Morris
Harris Group's expected future business prospects, revenue and
income. These forward-looking statements are based upon current
expectations and involve certain risks and uncertainties that could
cause actual results to differ materially from any such statement.
These risks and uncertainties, many of which are beyond the
Company's control, include, but are not limited to (1) trading
volume in the securities markets; (2) volatility of the securities
markets and interest rates; (3) changes in regulatory requirements
that could affect the demand for the Company's services or the cost
of doing business; (4) general economic conditions, both domestic
and foreign, especially in the regions where the Company does
business; (5) changes in the rate of inflation and related impact
on securities markets; (6) competition from existing financial
institutions and other new participants in the securities markets;
(7) legal developments affecting the litigation experience of the
securities industry; (8) successful implementation of technology
solutions; (9) changes in valuations of the Company's trading and
warrant portfolios resulting from mark-to-market adjustments; (10)
dependence on key personnel; (11) demand for the Company's
services; and (12) litigation and securities law liabilities. The
Company does not undertake any obligation to publicly update or
revise any forward-looking statements.
SOURCE Sanders Morris Harris Group Inc.