Virtus Investment Partners Declares Quarterly Cash Dividend on Common Stock, Increases Share Repurchase Authorization

Rhea-AI Summary

Virtus Investment Partners (NASDAQ: VRTS) announced a quarterly cash dividend of $1.50 per share for Q2 2022, payable on August 15, 2022, to shareholders of record as of July 29, 2022. Additionally, the Board authorized the repurchase of 750,000 shares under its existing share buyback program, which allows for open market and private transactions. This initiative reflects the company's commitment to enhancing shareholder value through dividends and strategic stock repurchases.

Positive

• Quarterly cash dividend of $1.50 per share enhances shareholder returns.
• Authorization of 750,000 shares for buyback indicates strong financial position and commitment to shareholder value.

Negative

• None.

HARTFORD, Conn., May 19, 2022 /PRNewswire/ -- Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-boutique asset management business, today announced that its Board of Directors has declared a quarterly cash dividend of $1.50 per common share for the second quarter of 2022.

The dividend will be paid on August 15, 2022 to shareholders of record at the close of business on July 29, 2022. Future declarations of dividends will be subject to the approval of the Board of Directors.

The Board also authorized an additional 750,000 shares of common stock under the current share repurchase program that was initiated in May 2013. Under the terms of the program, the company may repurchase shares of its common stock from time to time at its discretion through open market repurchases and/or privately negotiated transactions, depending on price and prevailing market and business conditions. The program, which has no specified term, may be suspended or terminated at any time.

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.

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SOURCE Virtus Investment Partners, Inc.

FAQ

What is the quarterly cash dividend declared by Virtus Investment Partners for Q2 2022?

Virtus Investment Partners declared a quarterly cash dividend of $1.50 per share for Q2 2022.

When will the dividend be paid to shareholders?

The dividend will be paid on August 15, 2022, to shareholders of record as of July 29, 2022.

How many shares are authorized for repurchase by Virtus Investment Partners?

The Board authorized the repurchase of 750,000 shares of common stock under the existing buyback program.

What is the purpose of the share repurchase program for Virtus Investment Partners?

The share repurchase program aims to enhance shareholder value through the acquisition of shares at market discretion.