Patria Investments Ltd (PAX), a global alternative asset manager, said on Thursday that its Board of Directors had authorized a quarterly dividend of $0.399 per share.
The dividend will be paid on March 8th to shareholders of record as of the close of business on February 22nd 2024, the company said.
The company reported $47.0 million in net income attributable to shareholders for the fourth quarter and $118.4 million for the entire 2023.
Meanwhile, Patria’s fee related earnings were reported at $46.7 million in the fourth quarter, which represents a 32% increase compared to Q4 2022.
“I’m very pleased with the performance we delivered in the 4th quarter and the full year 2023. We generated Fee Related Earnings of $148 million for the year, up 14% from 2022, and added $47 million of Performance Related Earnings. Together, that resulted in Distributable Earnings of $188 million for 2023, or $1.26 per share, which translates to EPS growth of 26% year-over-year for our shareholders,” Alex Saigh, Chief Executive Officer of Patria Investments Ltd, said in a press release.
“We continue to grow and diversify our platform, and based on our progress in 2023, we are even more confident in our path to deliver the multi-year targets shared at our 2022 Investor Day. I’m very proud of what we’ve accomplished in the three years since our IPO and excited for the opportunities ahead of us,” the CEO added.
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