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 $0.46 per share payable on February 1, 2016 to stockholders of record as of January 11, 2016. This new quarterly dividend rate represents an increase of 7.0% over the $0.43 per share quarterly dividend paid in 2015 and marks the sixth consecutive annual increase to our dividend. “Today’s announcement reflects our confidence in future cash generation and the strength of our balance sheet,” said Henry J. Herrmann, chairman and chief executive officer. “We remain steadfast in our commitment to returning capital to shareholders.”
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 and internationally. 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 and investment advisor and global distributor to the Ivy Global Investors Fund SICAV, an umbrella UCITS fund range domiciled in Luxembourg. 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.