GAMCO Investors, Inc. Announces Special Dividend of $2.00 per share
Rhea-AI Summary
GAMCO Investors, Inc. (OTCQX: GAMI) has announced a special cash dividend of $2.00 per share, payable on November 4, 2024, to Class A and Class B shareholders of record as of September 30, 2024. The aggregate payment will be approximately $48.4 million, based on 24.2 million outstanding shares. This dividend brings GAMCO's total shareholder returns through dividends to about $644.5 million since its 1999 public debut.
GAMCO, known for its PMV with a Catalyst™ approach, operates through Gabelli Funds, and GAMCO Asset Management Inc., offering a wide range of investment solutions including Value and Growth Equity, Convertibles, ETFs, and sector-focused strategies.
Positive
- Special cash dividend of $2.00 per share announced
- Aggregate dividend payment of approximately $48.4 million
- Total shareholder returns through dividends reach $644.5 million since 1999
- Diverse investment offerings across multiple asset classes and strategies
Negative
- None.
News Market Reaction – GAMI
On the day this news was published, GAMI gained 6.29%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
GREENWICH, Conn., Sept. 19, 2024 (GLOBE NEWSWIRE) -- GAMCO Investors, Inc. (“GAMCO”) (OTCQX: GAMI) today announced that its Board of Directors has declared a special cash dividend of
Since its inception as a public company in 1999 and including the current estimated special dividend, GAMCO has returned approximately
About GAMCO Investors, Inc.
GAMI is best known for its research-driven value approach to equity investing (known as PMV with a Catalyst™). GAMI conducts its investment advisory business principally through two subsidiaries: Gabelli Funds, LLC (24 open-end funds, 14 closed-end funds, 5 actively managed ETFs, and a SICAV) and GAMCO Asset Management Inc. (approximately 1,400 institutional and private wealth separate accounts). GAMI serves a broad client base including institutions, intermediaries, offshore investors, private wealth, and direct retail investors. In recent years, GAMI has successfully integrated new teams of RIAs by providing attractive compensation arrangements and extensive research capabilities.
GAMI offers a wide range of solutions for clients across Value and Growth Equity, Convertibles, actively managed ETFs, sector-focused strategies including Gold and Utilities, Merger Arbitrage, Fixed Income, and
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
The financial results set forth in this press release are preliminary. Our disclosure and analysis in this press release, which do not present historical information, contain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. 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.
Forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors, some of which are listed below, that are difficult to predict and could cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. Some of the factors that may cause our actual results to differ from our expectations include risks associated with the duration and scope of the ongoing coronavirus pandemic resulting in volatile market conditions, a decline in the securities markets that adversely affect our assets under management, negative performance of our products, the failure to perform as required under our investment management agreements, and a general downturn in the economy that negatively impacts our operations. We also direct your attention to the more specific discussions of these and other risks, uncertainties and other important factors contained in our Annual Report and other public filings. Other factors that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake to update publicly any forward-looking statements if we subsequently learn that we are unlikely to achieve our expectations whether as a result of new information, future developments or otherwise, except as may be required by law.
| Contact: | Kieran Caterina SVP, Chief Accounting Officer (914) 921-5149 For further information please visit www.gabelli.com |
FAQ
What is the amount of GAMCO Investors' (GAMI) special dividend announced on September 19, 2024?
When will GAMCO Investors (GAMI) pay the special dividend announced in September 2024?
How much has GAMCO Investors (GAMI) returned to shareholders through dividends since going public?
What is the total amount GAMCO Investors (GAMI) expects to pay for the September 2024 special dividend?
