Och-Ziff Capital Management Group LLC (NYSE:OZM) declared a special dividend on Friday, May 10th, Wall Street Journal reports. Investors of record on Monday, May 20th will be paid a dividend of 0.37 per share by the asset manager on Tuesday, May 28th. This represents a yield of 5.25%. The ex-dividend date of this dividend is Friday, May 17th.
Och-Ziff Capital Management Group has decreased its dividend by an average of 46.9% annually over the last three years. Och-Ziff Capital Management Group has a payout ratio of 541.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Och-Ziff Capital Management Group to earn $2.08 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 44.2%.
OZM traded up $0.33 on Friday, reaching $17.51. The company had a trading volume of 204,871 shares, compared to its average volume of 88,729. The firm has a market capitalization of $889.81 million, a PE ratio of 14.97 and a beta of 1.33. Och-Ziff Capital Management Group has a one year low of $8.60 and a one year high of $23.00.
A number of brokerages recently issued reports on OZM. Zacks Investment Research lowered shares of Och-Ziff Capital Management Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 20th. ValuEngine upgraded shares of Och-Ziff Capital Management Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th.
In other news, insider David Michael Levine sold 7,961 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $12.76, for a total transaction of $101,582.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Michael Sipp sold 26,416 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $16.70, for a total transaction of $441,147.20. Following the transaction, the chief financial officer now owns 87,357 shares of the company’s stock, valued at approximately $1,458,861.90. The disclosure for this sale can be found here. Insiders sold a total of 50,672 shares of company stock valued at $795,312 in the last quarter. 60.77% of the stock is currently owned by insiders.
About Och-Ziff Capital Management Group
Och-Ziff Capital Management Group LLC is a publicly owned hedge fund sponsor. The firm provides investment advisory services for its clients. It primarily caters to institutional investors which include pension funds, fund-of-funds, foundations and endowments, corporations and other institutions, private banks and family offices.
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