Virtus Investment Partners' 15% Dividend Increase for Shareholders. Stay Informed with Our Insightful Article on this Exciting Financial News
Virtus Investment Partners, Inc. (NASDAQ: VRTS), a leading player in the multi-manager asset management sector, has just made a significant announcement regarding its dividend. The company's Board of Directors has given the green light to a substantial increase in the quarterly common stock cash dividend. This latest move demonstrates Virtus Investment Partners' commitment to rewarding its shareholders while showcasing its strong financial performance and strategic balance sheet management.
The news that has investors buzzing is the approval of a quarterly common stock cash dividend of $1.90 per share by Virtus Investment Partners. This represents an impressive 15% surge from the previous quarterly dividend, which stood at $1.65 per share. This boost is a clear indicator of the company's robust financial health and its ability to generate strong free cash flow, which ultimately benefits its stakeholders.
George R. Aylward, the president and chief executive officer of Virtus Investment Partners, expressed his satisfaction at the dividend increase, noting that this marks the sixth consecutive year of such a positive move. Aylward attributes this consistent growth to the company's solid cash flow generation and the flexibility of its balance sheet. This strategic maneuver allows Virtus Investment Partners to support its capital priorities, ensuring a balanced approach to capital management.
Virtus Investment Partners is clear about its priorities when it comes to capital management. Aylward emphasized that returning value to shareholders stands as a crucial element of the company's strategy. This commitment to enhancing shareholder value is seamlessly integrated with other important aspects of the business, such as investing in its growth and maintaining a prudent level of leverage. This holistic approach demonstrates the company's dedication to long-term sustainability and balanced progress.
Shareholders and investors need to take note of some important dates. The third quarter of 2023 common stock dividend is scheduled to be paid out on November 15, 2023. Those eligible to receive the dividend are shareholders of record at the close of business on October 31, 2023. It's crucial to stay informed about these dates to make the most of the upcoming dividend payout.
While this announcement is certainly exciting, it's important to remember that future declarations of dividends are always subject to the approval of the Board of Directors. However, Virtus Investment Partners' consistent track record of dividend growth and its commitment to effective capital management provide a positive outlook for shareholders and potential investors alike.
Virtus Investment Partners' decision to increase its dividend by 15% is a clear demonstration of its financial strength and commitment to delivering value to its shareholders. This move aligns with the company's strategic priorities and long-term growth objectives. As always, staying informed about important dividend-related dates and the company's future decisions will be essential for anyone invested in or considering investing in Virtus Investment Partners.
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