Summary
Affiliated Managers Group, Inc. (AMG) announced its financial and operating results for the third quarter ended September 30, 2019, via a press release filed on October 28, 2019. The report also detailed the company's commitment to shareholder returns through dividend declarations and an enhanced share repurchase program. These actions signal management's confidence in the company's financial health and its strategy to return value to its stockholders.
Key Highlights
- 1AMG reported its financial and operating results for the quarter ended September 30, 2019.
- 2The Board of Directors declared a quarterly dividend of $0.32 per share, payable on November 21, 2019, to shareholders of record on November 7, 2019.
- 3An additional share repurchase program was authorized, allowing for the repurchase of up to 6.0 million shares of common stock.
- 4This new authorization, combined with the remaining capacity from a prior program, brings the total shares available for repurchase to 8.2 million.
- 5Share repurchases can be executed through various methods including open market purchases, private negotiations, derivatives, and accelerated share repurchase programs.
- 6The company's share repurchase programs do not have an expiration date.
Frequently Asked Questions
AMG released its financial and operating results for the third quarter ended September 30, 2019. Specific details of these results are available in the press release furnished as Exhibit 99.1.
The Board of Directors authorized an additional share repurchase program allowing for the purchase of up to 6.0 million shares of common stock. This, along with remaining capacity from prior programs, brings the total available for repurchase to 8.2 million shares. These repurchases can be made through open market or privately negotiated transactions and do not expire.
The quarterly dividend of $0.32 per share is payable on November 21, 2019, to shareholders of record as of the close of business on November 7, 2019.
The financial highlights table and financial tables on pages 3 through 7 of Exhibit 99.1 are 'filed' under Section 18 of the Securities Exchange Act of 1934. The rest of the information in Exhibit 99.1 is being 'furnished' under General Instruction B.2 of Form 8-K.