Abacus Global Management (NASDAQ:ABL), a firm specializing in alternative asset management, said on Tuesday that it will pay its inaugural annual cash dividend of $0.20 per share on December 17.
The move marks the first time Abacus has distributed an annual dividend, which the company said aligns with its capital allocation framework of returning up to 25% of adjusted net income or up to 55% of recurring revenue to shareholders.
“Introducing an annual dividend is a significant milestone for Abacus and reflects our confidence in the strength and sustainability of our business,” said Jay Jackson, CEO of Abacus.
“We expect to fund the dividend through cash on hand and free cash flow, supported by record cash generation, growing fee-based revenues, and expanding margins.”
Abacus leverages proprietary data analytics to deliver solutions to optimize financial outcomes for individuals and institutions worldwide, with a focus on longevity-based assets and personalized financial planning.