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Rating:W&R Raises Dividend Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, April 01, 2002

CORPORATE FINANCE
W&R Raises Dividend

by: InvestmentWires Staff, 

Things in the asset management may not be so bad after all. One positive sign this Spring is Waddell & Reed's decision to up its dividend. The Overland Park, Kansas-based firm raised its quarterly payout 4.42 cents per share to 13.26 cents per share. "The company intends to periodically review its payout level in the future and does not expect the increase to significantly impact its long-standing stock repurchase policy," Keith Tucker, chairman and chief executive, said in the statement. The firm is also converting $200 million of 7.50 percent fixed-rate senior notes maturing in February 2006 into variable-rate debt using an interest rate swap agreement.  

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