Welcome to our dedicated page for Associated Cap Group news (Ticker: AC), a resource for investors and traders seeking the latest updates and insights on Associated Cap Group stock.
Associated Capital Group Inc. reports developments tied to its diversified global financial services business, including alternative investment management through Gabelli & Company Investment Advisers and proprietary capital allocated to direct investments. Recurring updates cover book value per share, assets under management, operating results, merger arbitrage strategy performance, shareholder capital actions, and direct investment initiatives through Gabelli Private Equity Partners and Gabelli Principal Strategies Group.
Company news also includes corporate-status and governance matters, including the completed transition of its Class A common stock from NYSE listing to OTCQX trading and related deregistration actions.
Associated Capital Group (NYSE:AC) has announced a preliminary range for its third quarter book value of $41.85 to $42.05 per share. This estimate excludes the $2 per share special dividend declared in September 2024, payable on November 4, 2024, to Class A and Class B shareholders of record on October 21, 2024. The current range compares to book values of:
- $42.87 at June 30, 2024
- $42.11 per share at December 31, 2023
- $41.43 per share at September 30, 2023
AC plans to release more detailed financial results in November.
Associated Capital Group (NYSE:AC) has announced a special cash dividend of $2.00 per share. The dividend will be payable on November 4, 2024, to Class A and Class B shareholders of record as of the close of business on October 21, 2024. Based on the current 21.2 million shares outstanding, the total payout is estimated to be approximately $42.4 million.
Since its inception as a public company in 2015, including this special dividend, AC has returned about $81.1 million to shareholders through dividends. This announcement demonstrates the company's commitment to providing value to its shareholders.
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 (AC) reported its Q2 2024 financial results. Key highlights include:
- Assets Under Management (AUM) decreased to $1.36 billion from $1.55 billion in Q2 2023
- Book value per share increased to $42.87 from $41.41 year-over-year
- Total revenues rose to $2.6 million from $2.4 million in Q2 2023
- Net income decreased to $2.985 million ($0.14 per diluted share) from $3.371 million ($0.15 per diluted share) in Q2 2023
The company returned $4.4 million to shareholders through dividends and share repurchases in Q2. The Board approved a $0.20 per share Shareholder Designated Charitable Contribution (SDCC).
Associated Capital Group (AC) announced a preliminary second-quarter book value range of $42.75 to $42.95 per share as of June 30, 2024. This shows a slight decrease from $42.80 at March 31, 2024, but an increase from $42.11 at December 31, 2023, and $41.41 at June 30, 2023. Detailed financial results will be released in August.
Associated Capital Group, Inc. reported an increased first quarter book value with assets under management at $1.55 billion compared to $1.59 billion at the end of 2023. Book value per share ended the quarter at $42.80 per share, an increase from $42.11 at the end of 2023. The company's financial results for the first quarter of 2024 showed an operating loss before management fee, but positive investment and other non-operating income. Total revenues increased to $3.0 million from $2.5 million in the previous year. AC's alternative investment management strategy focuses on merger arbitrage, with a positive gross return of 1.33% in the first quarter of 2024. Global M&A activity saw a significant increase in the first quarter of 2024, with the US dominating deal making. AC plans to accelerate the use of capital through acquisitions and alliances, including launching a private equity business.
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