OVERLAND PARK, Kan.--(BUSINESS WIRE)--The Board of Directors of Waddell & Reed Financial, Inc. (NYSE: WDR) approved an increase in the quarterly dividend on its Class A common stock to $0.34 per share payable on February 3, 2014 to stockholders of record as of January 13, 2014. This new quarterly rate represents an increase of 21% over the previous $0.28 dividend per share rate. “Since 2010, we have steadily increased our regular annual dividend, up nearly 80% during that time. This growth reflects expanding earnings power and the substantial strength of our balance sheet” said Henry J. Herrmann, chairman and chief executive officer. “Our strong commitment of returning excess capital to our shareholders through share repurchases and dividend remains unchanged.”
Waddell & Reed Financial, Inc. will announce fourth quarter 2013 earnings before trading begins on the New York Stock Exchange, Tuesday, February 4, 2014, followed by a conference call at 10:00 a.m. Eastern. To listen to this call live on the internet, visit our Web site at www.waddell.com. A replay will be made available shortly after the conclusion of the call and accessible for seven days.
About the Company
Waddell & Reed, Inc., founded in 1937, is one of the oldest mutual fund complexes in the United States, having introduced the Waddell & Reed Advisors Group of Mutual Funds in 1940. Today, we distribute our investment products through the Waddell & Reed Wholesale channel (encompassing broker/dealer, retirement, and registered investment advisors), our Advisors channel (our network of financial advisors), and our Institutional channel (including defined benefit plans, pension plans and endowments, and our subadvisory partnership with Mackenzie in Canada).
Through its subsidiaries, Waddell & Reed Financial, Inc. provides investment management and financial planning services to clients throughout the United States. Waddell & Reed Investment Management Company serves as investment advisor to the Waddell & Reed Advisors Group of Mutual Funds, Ivy Funds Variable Insurance Portfolios and InvestEd Portfolios, while Ivy Investment Management Company serves as investment advisor to Ivy Funds. Waddell & Reed, Inc. serves as principal underwriter and distributor to the Waddell & Reed Advisors Group of Mutual Funds, Ivy Funds Variable Insurance Portfolios and InvestEd Portfolios, while Ivy Funds Distributor, Inc. serves as principal underwriter and distributor to Ivy Funds.