8-KEarnings & ResultsOther EventsExhibits & Filings

AFFILIATED MANAGERS GROUP, INC. 8-K Report, Financial Results (Feb 8, 2021)

Filed February 8, 2021For Securities:AMGMGRBMGRMGRDMGRE

Summary

Affiliated Managers Group, Inc. (AMG) filed an 8-K on February 8, 2021, primarily to report its financial and operating results for the quarter and year ended December 31, 2020. While the specific financial figures are detailed in the furnished press release (Exhibit 99.1), the filing also highlights key capital allocation decisions made by the Board of Directors. Investors should note the declaration of a quarterly dividend of $0.01 per share, payable on March 4, 2021, to shareholders of record as of February 18, 2021. Additionally, AMG announced a new share repurchase program authorizing the repurchase of up to 5.0 million shares of common stock. This, combined with remaining authorization from a prior program, brings the total available for repurchase to 6.9 million shares, underscoring a commitment to returning capital to shareholders.

Key Highlights

  • 1AMG announced its financial and operating results for the quarter and year ended December 31, 2020, via a press release.
  • 2The Board of Directors declared a quarterly cash dividend of $0.01 per share.
  • 3The dividend payment date is March 4, 2021, with a record date of February 18, 2021.
  • 4A new share repurchase program was authorized, allowing for the repurchase of up to 5.0 million shares of common stock.
  • 5The Company has a total of 6.9 million shares available for repurchase under its existing and newly authorized programs.
  • 6Share repurchases can be executed through various methods including open market, privately negotiated transactions, and Rule 10b5-1 trading plans.

Frequently Asked Questions

The 8-K filing references a press release (Exhibit 99.1) that contains the detailed financial and operating results for the quarter and year ended December 31, 2020. Investors should refer to Exhibit 99.1 for specific figures on revenue, earnings, and other operational metrics.

The Board of Directors declared a quarterly dividend of $0.01 per share. This dividend is payable on March 4, 2021, to shareholders of record as of the close of business on February 18, 2021.

AMG's Board of Directors authorized a new program allowing for the repurchase of up to 5.0 million shares of common stock. When combined with the remaining capacity from a previous program, the company has a total of 6.9 million shares available for repurchase. These programs do not expire.

The company has flexibility in executing its share repurchases. These can be made from time to time, at management's discretion, through open market purchases, privately negotiated transactions, or under trading plans compliant with Rule 10b5-1. Accelerated share repurchase programs or other strategies involving derivatives may also be utilized.