Waddell & Reed cuts dividend by 45.7 percent
Waddell & Reed Financial, Inc. (WDR) will lower its quarterly dividend from $0.46 to $0.25 per share.
The lowered dividend will be payable on February 1, 2018 to stockholders of record as of January 11, 2018
“We believe this policy allows us to create long-term value for our stockholders by providing us with additional flexibility to reposition our company amidst an ever-changing industry. This new capital return policy will not only provide for sustainability of the dividend, but also support our strategic initiatives going forward,” according Philip J. Sanders, Chief Executive Officer of Waddell & Reed Financial, Inc.
Year-to-date WDR stock hasn't moved with a 2.6 percent loss at a current stock price of $19.00. Including dividends (the current yield is 5%) the stock is unchanged in 2017.
Through its subsidiaries, Waddell & Reed Financial, Inc. provides investment management and financial planning services to clients throughout the United States and internationally. The Company operates its business through a distribution network. Its retail products are distributed through third parties, such as other broker-dealers, registered investment advisors and various retirement platforms or through associated independent contractor financial advisors.
The lowered dividend will be payable on February 1, 2018 to stockholders of record as of January 11, 2018
“We believe this policy allows us to create long-term value for our stockholders by providing us with additional flexibility to reposition our company amidst an ever-changing industry. This new capital return policy will not only provide for sustainability of the dividend, but also support our strategic initiatives going forward,” according Philip J. Sanders, Chief Executive Officer of Waddell & Reed Financial, Inc.
Year-to-date WDR stock hasn't moved with a 2.6 percent loss at a current stock price of $19.00. Including dividends (the current yield is 5%) the stock is unchanged in 2017.
Through its subsidiaries, Waddell & Reed Financial, Inc. provides investment management and financial planning services to clients throughout the United States and internationally. The Company operates its business through a distribution network. Its retail products are distributed through third parties, such as other broker-dealers, registered investment advisors and various retirement platforms or through associated independent contractor financial advisors.
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