No Dividend—Again—For Fortress Investors

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.


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Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

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