HARTFORD, Conn., Aug. 20, 2020 /PRNewswire/ — Virtus Investment Partners, Inc. (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 $0.82 per share, a 22% increase from the previous quarterly dividend of $0.67 per share.
«This increase to our common stock dividend reflects the strong free cash flow generated by the business and the flexibility of our balance sheet to support our capital priorities of investing in the business, returning capital to shareholders, and consistently reducing debt,» said George R. Aylward, president and chief executive officer. «We are pleased to increase the dividend for a third consecutive year as we continue to demonstrate the financial strength and stability of our company.»
The third quarter 2020 common stock dividend will be paid on November 13, 2020 to shareholders of record at the close of business on October 30, 2020.
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.
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.