Siebert Financial Corp. Declares Quarterly Dividend of $0.04 Per Share; Chair Muriel Siebert Continues to Waive Payment on Shares She Owns
NEW YORK, March 30 /PRNewswire/ -- Directors of Siebert Financial Corp. (Nasdaq: SIEB - news) have declared the Company's sixth consecutive quarterly dividend at $0.04 per share on the Common Stock of the company, payable April 15, 1999 to shareholders of record as of April 1, 1999.
As majority shareholder of Siebert Financial Corp., Chair Muriel F. Siebert waived her right to receive any portion of the dividend, which in her case would have amounted to $796,000. Ms. Siebert similarly waived her portion of all previous dividends declared to date. Such waivers reflect Ms. Siebert's desire to have minority shareholders receive a current return on their investment in the company while utilizing cash to finance growth opportunities in technology and investment banking services through either internal development or acquisition.
Siebert Financial Corp. is a holding company which conducts all its operations through its wholly owned subsidiary, Muriel Siebert & Co., Inc. (''Siebert''), a member of the New York Stock Exchange.
Siebert conducts its municipal investment banking activities through Siebert, Brandford, Shank, & Co., LLC, a separate affiliate specializing in municipal and other fixed income underwriting and financial advisory business.
Siebert is based in New York City with additional retail branches in Boca Raton, Surfside, Palm Beach and Naples, FL; Beverly Hills, CA and Morristown, NJ. In addition, Siebert, Brandford, Shank & Co. has offices in San Francisco, Los Angeles, Seattle, Houston, Chicago, Detroit and Dallas.
SOURCE: Siebert Financial Corp. |
