Lenox Wealth Management, Inc. Declares Dividend
CINCINNATI--(BUSINESS WIRE)-- Lenox Wealth Management, Inc. (Pink Sheets: LNXW) announces its Board of Directors declared a cash dividend of 50 cents per share at its Board of Directors Meeting held on July 15, 2013. The dividend is being paid to shareholders of record on July 31, 2013 and is payable on August 15, 2013.
This dividend will be the final dividend for 2013 and the company anticipates it will not pay a dividend in 2014 and possibly beyond. The Board of Directors is considering initiating a stock buyback plan as part of an overall plan to recapitalize the company and will release additional details as appropriate.
Lenox Wealth Management provides wealth management and family office services to executives and retirees of the Procter & Gamble and Scripps companies in Cincinnati. The company was originally founded in 1887 by William Cooper Procter to meet the financial needs of Procter & Gamble families. It was originally chartered as a thrift institution. The thrift was sold in 2003 and the company was repositioned as an independent fee only Registered Investment Advisory (RIA) with current assets of approximately $700 million.
The Corporation's common stock is traded on Pink Sheets under the symbol "LNXW.PK"
Lenox Wealth Management, Inc.
Jay Hummel, 513-618-7080
KEYWORDS: United States North America Ohio
The article Lenox Wealth Management, Inc. Declares Dividend originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.