Tuesday, 24 November 2015
Last updated 1 hour 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…