GLG Suspends Dividend Payment, For Now

Jan 2 2009 | 10:03am 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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...