GAMCO Investors, Inc. (NYSE:GBL) announced today that its Board of
Directors approved a quarterly dividend of $0.07 per share to all of its
Class A and Class B shareholders, payable on September 29, 2015 to its
Class A and Class B shareholders of record on September 15, 2015.
In addition, the Board of Directors authorized the repurchase of up to
an additional 500,000 shares of its Class A Common Stock at such times,
prices and amounts to be determined by the company. After this most
recent authorization, there are 814,502 shares available for repurchase
under GAMCO’s stock repurchase program. Since our 1999 IPO in which we
sold six million shares at a price of $17.50 per share, we have returned
$897.2 million to our shareholders through dividends and stock
repurchases. We have repurchased 9.3 million shares at an average price
of $44.51 per share for an investment of $414.8 million and paid
cumulative dividends of $482.4 million or $17.66 per share.
GAMCO Investors, Inc., through its subsidiaries, manages private
advisory accounts (GAMCO Asset Management Inc.), mutual funds and
closed-end funds (Gabelli Funds, LLC), and partnerships and offshore
funds (Gabelli Securities, Inc.). As of June 30, 2015, GAMCO had $45.4
billion in assets under management.
SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION
Our disclosure and analysis in this press release may contain some
forward-looking statements. Forward-looking statements give our current
expectations or forecasts of future events. In particular, these include
statements relating to future actions, future performance 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, there can be no assurance that
our actual results will not differ materially from what we expect or
believe. We also direct your attention to any more specific discussions
of risk contained in our Form 10-K and other public filings. We are
providing these statements as permitted by the Private Litigation Reform
Act of 1995. We do not undertake to update publicly any forward-looking
statements if we subsequently learn that we are unlikely to achieve our
expectations or if we receive any additional information relating to the
subject matters of our forward-looking statements.
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