Virtus Investment Partners Increases Quarterly Common Stock Dividend 15% to $1.90 Per Share
- Virtus Investment Partners, Inc. has raised its quarterly dividend by 15%, marking the sixth consecutive annual increase. The dividend will be $1.90 per share, up from $1.65 per share. This reflects the company's strong free cash flow and flexible balance sheet. Shareholders can expect increased returns on their investment.
- None.
Sixth consecutive annual dividend increase
"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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230816047823/en/
Sean Rourke
Investor Relations
(860) 263-4709
sean.rourke@virtus.com
Source: Virtus Investment Partners
FAQ
What is the quarterly common stock cash dividend increase announced by Virtus Investment Partners, Inc.?
How many consecutive years has Virtus Investment Partners, Inc. increased its dividend?
When will the dividend be paid?
What factors contributed to the dividend increase?
