Silvercrest (SAMG) Announces $12M Share Repurchase Plan

Group 1 - Silvercrest Asset Management Group Inc. (SAMG) has approved a share repurchase program allowing for the repurchase of up to $12 million of its Class A common stock over the next 12 months [1] - Previously, SAMG's board approved a $15 million share repurchase program, under which it purchased 808,455 shares for $15.06 million as of June 30, 2024 [2] - SAMG has a history of paying regular quarterly dividends, enhancing shareholder value through capital distributions [2] Group 2 - On July 30, 2024, SAMG's board approved a 5.3% dividend increase from 19 cents to 20 cents per share, with the dividend to be paid on September 20, 2024 [3] - Over the last five years, SAMG has increased its dividend five times, maintaining a payout ratio of 72% of earnings [3] - The company has a five-year annualized dividend growth rate of 5.27%, and with a closing price of $15.55 per share, its forward annualized dividend yield is 5.1% [4] Group 3 - In the past six months, SAMG shares have decreased by 5.2%, contrasting with the industry's growth of 7.4% [4] - Currently, Silvercrest holds a Zacks Rank 3 (Hold) [5]