Fortress Won’t Pay Third-Quarter Dividend

Sep 23 2009 | 2:47am ET

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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