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Associated Capital Group Sets Registration Date for 2024 Shareholder Designated Charitable Contribution

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Associated Capital Group (NYSE: AC) has announced the registration date for its 2024 Shareholder Designated Charitable Contribution (SDCC). Key points:

  • Registration date: October 18, 2024
  • SDCC amount: $0.20 per share
  • Eligible shareholders: Registered Class A and Class B shareholders
  • Total estimated contribution: $4.3 million
  • Deadline for charity designation: December 6, 2024

Shareholders can designate 501(c)(3) charitable organizations to receive the contribution. Since becoming a public company, AC shareholders have donated approximately $42 million to over 190 charities.

Associated Capital Group (NYSE: AC) ha annunciato la data di registrazione per il proprio Contributo Caritativo Designato dagli Azionisti (SDCC) del 2024. Punti chiave:

  • Data di registrazione: 18 ottobre 2024
  • Importo del SDCC: $0,20 per azione
  • Azionisti idonei: Azionisti registrati di Classe A e Classe B
  • Contributo totale stimato: $4,3 milioni
  • Scadenza per la designazione della carità: 6 dicembre 2024

Gli azionisti possono designare organizzazioni caritatevoli 501(c)(3) per ricevere il contributo. Dalla sua salita alla borsa, gli azionisti di AC hanno donato circa $42 milioni a oltre 190 organizzazioni benefiche.

Associated Capital Group (NYSE: AC) ha anunciado la fecha de registro para su Contribución Caritativa Designada por los Accionistas (SDCC) de 2024. Puntos clave:

  • Fecha de registro: 18 de octubre de 2024
  • Monto del SDCC: $0.20 por acción
  • Accionistas elegibles: Accionistas registrados de Clase A y Clase B
  • Contribución total estimada: $4.3 millones
  • Fecha límite para la designación de caridad: 6 de diciembre de 2024

Los accionistas pueden designar organizaciones benéficas 501(c)(3) para recibir la contribución. Desde que se convirtió en una empresa pública, los accionistas de AC han donado aproximadamente $42 millones a más de 190 organizaciones benéficas.

Associated Capital Group (NYSE: AC)는 2024년 주주 지정 자선 기부(SDCC)의 등록 날짜를 발표했습니다. 주요 사항:

  • 등록 날짜: 2024년 10월 18일
  • SDCC 금액: 주당 $0.20
  • 적격 주주: A 클래스 및 B 클래스의 등록 주주
  • 총 예상 기부액: $4.3 백만
  • 자선 지정 마감일: 2024년 12월 6일

주주들은 자금을 수령할 501(c)(3) 자선 단체를 지정할 수 있습니다. AC가 상장된 이후, AC의 주주들은 190개 이상의 자선 단체에 약 $42 백만을 기부했습니다.

Associated Capital Group (NYSE: AC) a annoncé la date d'enregistrement pour sa Contribution Caritative Désignée par les Actionnaires (SDCC) de 2024. Points clés :

  • Date d'enregistrement : 18 octobre 2024
  • Montant du SDCC : 0,20 $ par action
  • Actionnaires éligibles : Actionnaires enregistrés de Classe A et de Classe B
  • Contribution totale estimée : 4,3 millions de dollars
  • Échéance pour la désignation de la charité : 6 décembre 2024

Les actionnaires peuvent désigner des organisations caritatives 501(c)(3) pour recevoir la contribution. Depuis son entrée en bourse, les actionnaires de AC ont donné environ 42 millions de dollars à plus de 190 organisations caritatives.

Associated Capital Group (NYSE: AC) hat das Registrierungsdatum für seinen 2024 von den Aktionären designated Charitable Contribution (SDCC) bekannt gegeben. Wichtige Punkte:

  • Registrierungsdatum: 18. Oktober 2024
  • SDCC-Betrag: $0,20 pro Aktie
  • Berechtigte Aktionäre: Registrierte Aktionäre der Klassen A und B
  • Gesamtschätzung des Beitrags: $4,3 Millionen
  • Frist für die Wohltätigkeitsbezeichnung: 6. Dezember 2024

Aktionäre können 501(c)(3)-Wohltätigkeitsorganisationen benennen, um den Beitrag zu erhalten. Seit der Börsennotierung haben die Aktionäre von AC insgesamt etwa $42 Millionen an über 190 Wohltätigkeitsorganisationen gespendet.

Positive
  • Continuing tradition of charitable contributions, enhancing corporate social responsibility
  • Estimated total contribution of $4.3 million, demonstrating financial stability
  • Shareholder engagement through charitable designation process
Negative
  • None.

Insights

Associated Capital Group's (AC) Shareholder Designated Charitable Contribution (SDCC) program is an interesting approach to corporate philanthropy. While the $0.20 per share contribution may seem modest, it amounts to a substantial $4.3 million total donation, given AC's 21.4 million outstanding shares. This represents about 1% of AC's market cap, a significant allocation to charitable giving.

From a financial perspective, this program allows AC to maintain goodwill without directly impacting its bottom line, as shareholders essentially direct a portion of their potential dividends to charity. The cumulative $42 million donated since inception demonstrates a consistent commitment to this initiative. While not directly impacting AC's financial performance, this program may enhance the company's ESG profile, potentially attracting socially conscious investors.

AC's SDCC program is a unique governance model that empowers shareholders in corporate philanthropy. By allowing shareholders to designate recipients, AC effectively delegates its charitable decisions, potentially aligning donations with shareholder values. This approach could enhance shareholder engagement and satisfaction.

However, it's worth noting that this model might lead to a fragmented charitable impact, as donations could be spread across numerous organizations. The registration process and deadline (October 18, 2024) add an extra layer of shareholder responsibility. While this promotes active ownership, it might also result in unclaimed contributions if shareholders fail to register or designate in time. The option to designate through AC's website is a positive step towards facilitating shareholder participation in this process.

GREENWICH, Conn., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Associated Capital Group, Inc. (NYSE: AC) has set October 18, 2024 as the registration date for its 2024 Shareholder Designated Charitable Contribution (“SDCC”). AC previously announced the approval of a $0.20 per share SDCC for all registered Class A and Class B shareholders. To be eligible, shareholders will have until October 18, 2024 to register shares directly with Computershare, AC’s transfer agent. Shareholders can then designate a 501(c)(3) charitable organization to receive the $0.20 per share SDCC.

Based on the 21.4 million shares currently outstanding, AC’s total contribution will be approximately $4.3 million. In late October, AC will provide forms to registered holders to designate recognized 501(c)(3) charitable organizations. There will also be an option to designate charitable organizations through our website www.associated-capital-group.com/donate. A list of eligible charities is available at Guidestar.org (https://www.guidestar.org/search). Responses will be due by December 6, 2024.

Since its inception as a public company and including the current estimated contribution, the shareholders of AC have donated approximately $42 million to over 190 different charities that address a broad range of local, national, and international concerns.

About Associated Capital Group, Inc.

Associated Capital, based in Greenwich, Connecticut, is a diversified global financial services company that provides alternative investment management through Gabelli & Company Investment Advisers, Inc. (“GCIA”). We have also earmarked proprietary capital for our direct investment business that invests in new and existing businesses. The direct investment business is developing along several core pillars, including Gabelli Private Equity Partners, LLC (“GPEP”) which was formed in August 2017 with $150 million of authorized capital as a “fund-less” sponsor. We also created Gabelli Principal Strategies Group, LLC (“GPS”) in December 2015 to pursue strategic operating initiatives.

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

Our disclosure and analysis in this press release contain “forward-looking statements”. Forward-looking statements convey our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. They also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, the economy and other conditions, there can be no assurance that our actual results will not differ materially from what we expect or believe. Therefore, you should proceed with caution in relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.

Contact:

Ian J. McAdams
Chief Financial Officer
(914) 921-5078
info@associated-capital-group.com


FAQ

What is the registration date for Associated Capital Group's 2024 SDCC?

The registration date for Associated Capital Group's (NYSE: AC) 2024 Shareholder Designated Charitable Contribution (SDCC) is October 18, 2024.

How much is Associated Capital Group's SDCC per share for 2024?

Associated Capital Group (NYSE: AC) has approved a Shareholder Designated Charitable Contribution of $0.20 per share for 2024.

What is the total estimated charitable contribution by Associated Capital Group for 2024?

Based on the current 21.4 million shares outstanding, Associated Capital Group's (NYSE: AC) total estimated charitable contribution for 2024 is approximately $4.3 million.

When is the deadline for Associated Capital Group shareholders to designate charities for the 2024 SDCC?

The deadline for Associated Capital Group (NYSE: AC) shareholders to designate charities for the 2024 Shareholder Designated Charitable Contribution is December 6, 2024.

Associated Capital Group, Inc.

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