Virtus Investment Partners Increases Quarterly Common Stock Dividend 15% to $1.90 Per Share
17 August 2023 - 2:00PM
Business Wire
Sixth consecutive annual dividend increase
Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates
a multi-manager asset management business, today announced that its
Board of Directors has approved a quarterly common stock cash
dividend of $1.90 per share, representing a 15% increase from the
previous quarterly dividend of $1.65 per share.
"We are pleased to raise our dividend for the sixth consecutive
year, reflecting the strong free cash flow generated by the
business and the flexibility of our balance sheet to support our
capital priorities,” said George R. Aylward, president and chief
executive officer. “Returning capital to shareholders is an
important element of our capital management strategy, alongside
investing in the growth of the business and maintaining appropriate
levels of leverage.”
The third quarter 2023 common stock dividend will be paid on
November 15, 2023 to shareholders of record at the close of
business on October 31, 2023.
Future declarations of dividends will be subject to the approval
of the Board of Directors.
About Virtus Investment Partners, Inc.
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive
partnership of boutique investment managers singularly committed to
the long-term success of individual and institutional investors. We
provide investment management products and services from our
affiliated managers, each with a distinct investment style and
autonomous investment process, as well as select subadvisers.
Investment solutions are available across multiple disciplines and
product types to meet a wide array of investor needs. Additional
information about our firm, investment partners, and strategies is
available at virtus.com.
Forward-Looking Information
This press release contains statements that are, or may be
considered to be, forward-looking statements. All statements that
are not historical facts, including statements about our beliefs or
expectations, are “forward-looking statements” within the meaning
of The Private Securities Litigation Reform Act of 1995. These
statements may be identified by such forward-looking terminology as
“expect,” “estimate,” “plan,” “intend,” “believe,” “anticipate,”
“may,” “will,” “should,” “could,” “continue,” “project,” or similar
statements or variations of such terms. Our forward-looking
statements are based on a series of expectations, assumptions and
projections about our company, are not guarantees of future results
or performance, and involve substantial risks and uncertainty,
including assumptions and projections concerning our assets under
management, cash inflows and outflows, operating cash flows, our
ability to expand distribution and product offerings, and future
credit facilities, for all forward periods. All of our
forward-looking statements are as of the date of this release only.
The company can give no assurance that such expectations or
forward-looking statements will prove to be correct. Actual results
may differ materially.
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version on businesswire.com: https://www.businesswire.com/news/home/20230816047823/en/
Sean Rourke Investor Relations (860) 263-4709
sean.rourke@virtus.com
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