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Abacus Global Management’s annual dividend will rise to 22 cents per share from 20 cents, a 10% increase approved by the company’s board. The new payment is scheduled for Dec. 16, with shareholders of record on Dec. 1 eligible to receive it.
Under its dividend policy, the company intends to distribute an annual dividend of up to 25% of adjusted net income. Abacus said it expects to fund the payment with cash on hand and free cash flow.
At the latest closing share price of $8.75, the new dividend represents a yield of 2.5%.
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