Artisan Partners Asset Management Inc. (NYSE: APAM) today announced that its board of directors has declared a quarterly dividend of $0.43 per share of Class A common stock. The dividend will be paid on August 26, 2013 to shareholders of record as of the close of business on August 12, 2013.
As an investment manager, Artisan Partners is designed with a variable expense structure that is responsive to the market and demand factors that are difficult to anticipate from quarter to quarter. The firm’s dividend policy, which targets the distribution of the majority of annual adjusted earnings, is also designed to be responsive. Artisan Partners plans to maintain a schedule of consistent quarterly dividends subject to the discretion of its board of directors, which also expects to consider an additional special dividend each year.
The dividend marks the first quarterly dividend since completion of Artisan Partners’ initial public offering in March 2013.
About Artisan Partners
Artisan Partners is an independent investment management firm focused on providing high value-added, active investment strategies to sophisticated clients globally. Since 1994, the firm has been committed to attracting experienced, disciplined investment professionals to manage client assets. Artisan Partners has five autonomous investment teams that oversee thirteen distinct U.S., non-U.S. and global investment strategies. Each strategy is offered through multiple investment vehicles to accommodate a broad range of client mandates. The firm’s principal offices are located in Milwaukee, San Francisco, Atlanta, New York and London.