Associated Capital Group, Inc. has announced a special cash dividend of $2.00 per share, payable on November 4, 2024, to class A and class B shareholders of record as of the close of business on October 21, 2024. The aggregate payment will be approximately $42.4 million based on shares outstanding of 21.2 million as of the date of the release.
In addition, since its inception as a public company in 2015, Associated Capital Group, Inc. has returned approximately $81.1 million to shareholders through dividends.
The company, based in Greenwich, Connecticut, provides alternative investment management through Gabelli & Company Investment Advisers, Inc. (GCIA) and has also earmarked proprietary capital for its direct investment business, which invests in new and existing businesses. These key pillars include Gabelli Private Equity Partners, LLC (GPEP) and Gabelli Principal Strategies Group, LLC (GPS).
This announcement is a significant step for the company, as it reflects a commitment to returning value to shareholders. It also underlines the company's financial strength and its ability to generate cash to support such initiatives. The market has reacted to these announcements by moving the company's shares -0.1% to a price of $33.61. For more information, read the company's full 8-K submission here.
