Moelis & Company (MC) Declares $1.50 Special Dividend; 2.4% Yield

July 23, 2018 4:27 PM EDT

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Moelis & Company (NYSE: MC) declared a special dividend of $1.50 per share.

The dividend will be payable on September 12, 2018, to stockholders of record on August 2, 2018, with an ex-dividend date of August 1, 2018.

The annual yield on the dividend is 2.4 percent.

“Our record second quarter revenues reflect the strength of our franchise as we continued to capitalize on a robust environment for M&A and experienced growth across our additional strategic advisory offerings. We expect to maintain our momentum as we continue to develop the world’s leading bankers and integrate them into a cohesive global network that delivers exceptional client service around the world,” said Ken Moelis, Chairman and Chief Executive Officer.

“Our capital-light business model and focus on organic growth creates substantial shareholder value, as evidenced by today’s announcement of a $1.50 per share special dividend in addition to our regular quarterly dividend of $0.47 per share. Including today’s announcement, we will have returned over $10 per share in dividends over the last three years.”

For a dividend history and other dividend-related data on Moelis & Company (MC) click here.

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