GLG Suspends Dividend Payment, For Now

Jan 2 2009 | 11:03am ET

Investors in publicly traded hedge fund firm GLG Partners this week received bad news from its board of directors. It will not continue paying a regular quarterly dividend on its common stock.

Co-CEO Noam Gottesman said the firm thought it was prudent in the current market environment “to retain capital rather than continue paying a regular quarterly dividend.”

“Furthermore, we recently announced an agreement to acquire Societe Generale Asset Management UK and will continue to seek similar opportunities for us to grow and broaden our business as we move into 2009,” he said.

GLG’s board said it will consider continuing the regular quarterly dividend as well as the payment of a special dividend as and when it determines appropriate in the future.

The firm managed over $17 billion as of the end of September 2008.


In Depth

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...