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Fortress Won’t Pay Third-Quarter Dividend
September 23, 2009
Another quarter, another cancelled dividend from Fortress Investment Group.
The New York-based private equity giant yesterday said it would not pay a third-quarter dividend, the fifth-straight quarter it will not do so. The firm, which last month reported a narrower quarterly loss, said it would hold onto the money “for potential future investment opportunities and for working capital purposes.”
Fortress last paid a dividend in the second quarter of last year. The firm went public in February 2007.
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