HARTFORD, Conn., Aug. 15, 2019 /PRNewswire/ -- Virtus
Investment Partners (NASDAQ: VRTS), which operates a
multi-boutique asset management business, today announced that its
Board of Directors has declared a quarterly cash dividend on its
common stock of $0.67 per share, a 22
percent increase from the previous quarterly dividend of
$0.55 per share. This is the second
consecutive year the company has increased its common stock
dividend since a quarterly dividend was initiated in May 2014.
"We are pleased to provide shareholders with this increase in
our common stock dividend," said George R.
Aylward, president and chief executive officer. "Our strong
free cash flow and balance sheet flexibility support a balanced
approach to capital management across our priorities, which include
investing in the business, returning capital to shareholders, and
consistently reducing our debt outstanding."
The common stock dividend will be paid on November 15, 2019 to shareholders of record at
the close of business on October 31,
2019.
The board also declared a quarterly cash dividend of
$1.8125 per share on the company's
7.25% Series D Mandatory Convertible Preferred Stock (NASDAQ:
VRTSP). The dividend will be paid on November 1, 2019 to shareholders of record at the
close of business on October 15,
2019.
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, Rampart
Investment Management, 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