Virtus Investment Partners Increases Quarterly Common Stock Dividend 83% to $1.50 Per Share

Rhea-AI Summary

Virtus Investment Partners (NASDAQ: VRTS) has announced an impressive 83% increase in its quarterly cash dividend, raising it to $1.50 per share from $0.82. This marks the fourth consecutive year of dividend increases. The new dividend will be paid on November 12, 2021, to shareholders of record by October 29, 2021. CEO George R. Aylward credited the company's strong balance sheet and cash flow generation as key factors supporting this increase, which reflects their commitment to returning capital and investing in growth.

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• 83% increase in quarterly dividend to $1.50 per share.
• Fourth consecutive year of dividend increases.
• Strong balance sheet supports increased shareholder returns.

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• None.

HARTFORD, Conn., Aug. 19, 2021 /PRNewswire/ -- Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-boutique asset management business, today announced that its Board of Directors has approved a quarterly common stock cash dividend of $1.50 per share, an 83% increase from the previous dividend of $0.82 per share. This is the fourth consecutive year that the company has increased its quarterly dividend.

"Our approach to return of capital is to be reflective of our capital position and cash flow generation. Our strong balance sheet and significantly higher cash flow support this meaningful increase in our common dividend, factors into our consideration of share repurchases, and further enhances our flexibility to balance our capital priorities of investing in growth, returning capital, and maintaining appropriate leverage," said George R. Aylward, president and chief executive officer.

The third quarter 2021 common stock dividend will be paid on November 12, 2021 to shareholders of record at the close of business on October 29, 2021.

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. The company provides investment management products and services through its affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process, and individual brand. Virtus Investment Partners offers access to a variety of investment styles across multiple disciplines to meet a wide array of investor needs. Its affiliates include Ceredex Value Advisors, Duff & Phelps Investment Management, Kayne Anderson Rudnick Investment Management, Newfleet Asset Management, NFJ Investment Group, Seix Investment Advisors, Silvant Capital Management, Sustainable Growth Advisers, and Virtus ETF Solutions. Additional information 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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SOURCE Virtus Investment Partners, Inc.

FAQ

What is the new dividend amount for Virtus Investment Partners (VRTS)?

The new quarterly dividend amount for Virtus Investment Partners (VRTS) is $1.50 per share.

When will the dividend be paid to shareholders of Virtus Investment Partners (VRTS)?

The dividend will be paid on November 12, 2021, to shareholders of record as of October 29, 2021.

How much has Virtus Investment Partners (VRTS) increased its dividend?

Virtus Investment Partners (VRTS) has increased its dividend by 83% from $0.82 to $1.50 per share.

How often does Virtus Investment Partners (VRTS) declare dividends?

Virtus Investment Partners (VRTS) typically declares dividends quarterly, subject to Board approval.

What factors contributed to the dividend increase by Virtus Investment Partners (VRTS)?

The increase was supported by a strong balance sheet and higher cash flow generation.