Sunday, 28 August 2016
Last updated 1 day ago
Dec 20 2010 | 9:30am ET
Stop us if you’ve heard this before: Fortress Investment Group is not paying a dividend to investors this quarter.
The New York-based alternative investments giant said it would “retain capital for future potential investment opportunities and for working capital purposes.” It is the tenth-straight quarter without a dividend from the $44 billion firm.
Fortress also said that director Howard Rubin would resign from its board at the end of the year. It appointed David Barry to fill Rubin’s post.
The firm did not offer any biographical information about Barry, who it said would be an independent director. Barry will also take over Rubin’s seats on Fortress’ audit and nominating committees; Rubin serves on the former as well as Fortress’ compensation committee.