Virtus Investment Partners Increases Quarterly Common Stock Dividend 10% to $1.65 Per Share
Virtus Investment Partners (NASDAQ: VRTS) announced a 10% increase in its quarterly dividend, rising from $1.50 to $1.65 per share. This marks the company's fifth consecutive annual dividend increase. The dividend will be paid on November 15, 2022 to shareholders of record by October 31, 2022. CEO George R. Aylward highlighted the company's strong balance sheet and cash flow generation as reasons for this increase, reiterating their commitment to shareholder value through capital management.
- 10% increase in quarterly dividend to $1.65 per share
- Fifth consecutive annual dividend increase
- Strong balance sheet and free cash flow generation
- None.
Fifth consecutive annual dividend increase
HARTFORD, Conn., Aug. 18, 2022 /PRNewswire/ -- 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
"This increase in our dividend reflects the strength of our balance sheet and free cash flow generation," said George R. Aylward, president and chief executive officer. "We are committed to delivering value to our shareholders by balancing our capital priorities of investing in growth, returning capital, and maintaining an appropriate level of leverage."
The third quarter 2022 common stock dividend will be paid on November 15, 2022 to shareholders of record at the close of business on October 31, 2022.
Future declarations of dividends will be subject to the approval of the Board of Directors.
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.
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.
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