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Silvercrest (SAMG) Announces $12M Share Repurchase Plan
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Silvercrest Asset Management Group Inc.’s (SAMG - Free Report) board of directors has approved a share repurchase program. Under the new plan, the company may repurchase up to $12 million of its Class A common stock over the next 12 months.
The plan does not obligate SAMG to repurchase any dollar amount or number of shares of its Class A common stock, and the program may be suspended or discontinued at any time.
Prior to this, on Jul 29, 2021, the company’s board of directors approved a share repurchase program worth up to $15 million. As of Jun 30, 2024, SAMG purchased 808,455 shares of common stock for $15.06 million.
Apart from repurchasing shares, SAMG pays regular quarterly dividends. These capital distributions help in enhancing shareholder value.
On Jul 30, 2024, the company’s board of directors approved a dividend hike of 5.3% from 19 cents per share to 20 cents. The dividend will be paid out on Sep 20, 2024, to shareholders of record as of Sep 13.
In the last five years, Silvercrest has increased its dividend five times. Its payout ratio is 72% of earnings, which indicates that the company delivers lucrative returns to its shareholders.
It has a five-year annualized dividend growth rate of 5.27%. Considering SAMG’s closing price of $15.55 per share on Aug 19, its forward annualized dividend yield is 5.1%.
In the past six months, SAMG shares have plunged 5.2% against the industry’s growth of 7.4%.
Recently, Enova International, Inc.’s (ENVA - Free Report) board of directors approved a new share repurchase program worth $300 million, which expires on Dec 31, 2025.
The new program replaces the existing $300-million share repurchase plan announced in October 2023. The company repurchased roughly $201 million in shares in the first six months of 2024.
Prior to the October 2023 program, ENVA announced a $100-million share repurchase plan in February 2022, which was extended up to $150 million in November 2022.
Last month, FS Bancorp, Inc. (FSBW - Free Report) authorized an additional share buyback program worth up to $5 million. The repurchase plan will be active through Jul 31, 2025. In August 2023, FSBW announced a share repurchase plan worth up to $5 million, which expired on Jul 31, 2024.
Also, FS Bancorp announced a quarterly dividend hike. The company declared a dividend of 27 cents per share, reflecting a 3.8% increase from the prior payout. The dividend will be paid out on Aug 21, 2024, to shareholders of record as of Aug 7.
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Silvercrest (SAMG) Announces $12M Share Repurchase Plan
Silvercrest Asset Management Group Inc.’s (SAMG - Free Report) board of directors has approved a share repurchase program. Under the new plan, the company may repurchase up to $12 million of its Class A common stock over the next 12 months.
The plan does not obligate SAMG to repurchase any dollar amount or number of shares of its Class A common stock, and the program may be suspended or discontinued at any time.
Prior to this, on Jul 29, 2021, the company’s board of directors approved a share repurchase program worth up to $15 million. As of Jun 30, 2024, SAMG purchased 808,455 shares of common stock for $15.06 million.
Apart from repurchasing shares, SAMG pays regular quarterly dividends. These capital distributions help in enhancing shareholder value.
On Jul 30, 2024, the company’s board of directors approved a dividend hike of 5.3% from 19 cents per share to 20 cents. The dividend will be paid out on Sep 20, 2024, to shareholders of record as of Sep 13.
In the last five years, Silvercrest has increased its dividend five times. Its payout ratio is 72% of earnings, which indicates that the company delivers lucrative returns to its shareholders.
It has a five-year annualized dividend growth rate of 5.27%. Considering SAMG’s closing price of $15.55 per share on Aug 19, its forward annualized dividend yield is 5.1%.
In the past six months, SAMG shares have plunged 5.2% against the industry’s growth of 7.4%.
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Currently, Silvercrest carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Capital Distributions by Other Finance Firms
Recently, Enova International, Inc.’s (ENVA - Free Report) board of directors approved a new share repurchase program worth $300 million, which expires on Dec 31, 2025.
The new program replaces the existing $300-million share repurchase plan announced in October 2023. The company repurchased roughly $201 million in shares in the first six months of 2024.
Prior to the October 2023 program, ENVA announced a $100-million share repurchase plan in February 2022, which was extended up to $150 million in November 2022.
Last month, FS Bancorp, Inc. (FSBW - Free Report) authorized an additional share buyback program worth up to $5 million. The repurchase plan will be active through Jul 31, 2025. In August 2023, FSBW announced a share repurchase plan worth up to $5 million, which expired on Jul 31, 2024.
Also, FS Bancorp announced a quarterly dividend hike. The company declared a dividend of 27 cents per share, reflecting a 3.8% increase from the prior payout. The dividend will be paid out on Aug 21, 2024, to shareholders of record as of Aug 7.