HARTFORD, Conn., Aug. 15, 2018 /PRNewswire/ -- Virtus
Investment Partners, Inc. (NASDAQ: VRTS), which operates a
multi-manager asset management business, today announced that its
Board of Directors has declared a quarterly cash dividend on its
common stock of $0.55 per share,
which represents a 22 percent increase from the previous quarterly
dividend level of $0.45 per share.
This is the first increase since the company initiated a quarterly
dividend in May 2014.
"We are pleased to increase our common stock dividend, which
reflects our commitment to returning value to our shareholders as
part of our overall capital strategy that also includes balancing
investing in the business and maintaining appropriate debt levels,"
said George R. Aylward, president
and chief executive officer.
The common stock dividend will be paid on November 15, 2018 to shareholders of record at
the close of business on October 31,
2018.
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, 2018 to shareholders of record at the
close of business on October 16,
2018.
Future declarations of dividends will be subject to the approval
of the Board of Directors.
About Virtus Investment Partners
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 Advisers.
Additional information can be found 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 original content with
multimedia:http://www.prnewswire.com/news-releases/virtus-investment-partners-increases-common-stock-dividend-to-0-55-per-share-300697506.html
SOURCE Virtus Investment Partners, Inc.