TORONTO, Sept. 18, 2014 /CNW/ - Gluskin Sheff + Associates Inc. (the "Company") today declared its regular quarterly dividend of $0.20 per Common Share, for the quarter ended June 30, 2014, payable on October 14, 2014, to shareholders of record at the close of business on October 1, 2014.
The Company also announced today a special dividend of $0.35 per Common Share payable on October 14, 2014 to shareholders of record on October 1, 2014. The special dividend relates to Performance Fees earned during the six months ended June 30, 2014, net of related bonus expense and income tax, less the cash requirements related to the acquisition of Blair Franklin Asset Management.
The Company also announced that its regular quarterly dividend would be increased to $0.225 ($0.90 on an annual basis) from the current quarterly dividend of $0.20 ($0.80 annually) per common share commencing with the declaration of the first quarter dividend for fiscal 2015.
"We are pleased to declare our eleventh special dividend and announce the eighth consecutive increase in our regular dividend since becoming a public company," commented Jeremy Freedman, President & Chief Executive Officer. "Our results and our balance sheet have allowed us to deploy capital strategically, as demonstrated by our recent acquisition of Blair Franklin Asset Management, while at the same time giving us confidence to increase dividends as part of our commitment to shareholders."
Founded in 1984, Gluskin Sheff + Associates Inc. is one of Canada's pre-eminent wealth management firms serving high net worth private clients and institutional investors. Gluskin Sheff offers equity and fixed income investment portfolios in addition to being one of the largest managers of alternative investments in Canada. The Company's Subordinate Voting Shares are listed on the Toronto Stock Exchange under the symbol "GS". For more information about the Company, please visit our website at www.gluskinsheff.com.
SOURCE: Gluskin Sheff + Associates Inc.
For further information: David R. Morris, Chief Financial Officer and Secretary, 1.416.681.6036