Friday, 19 December 2014
Last updated 32 min ago
Sep 24 2010 | 11:50am ET
Fortress Investment Group shareholders can be forgiven for wondering if they’ll ever receive a dividend again.
The New York-based alternative investments giant said yesterday that it would not pay a third-quarter dividend. It is the ninth consecutive quarter that Fortress has chosen to withhold a dividend; the firm hasn’t paid one since the second quarter of 2008.
Fortress said it would retain capital for potential future investment opportunities and working capital purposes.
The $41.7 billion firm had $167.5 million in cash at the end of the second quarter.
Fortress shares are down about 20% this year.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.