Why has Och-Ziff historically paid a smaller dividend for the first three quarters of the year, compared to the dividend it pays for the fourth quarter?
Because we have historically earned and recognized most of our income in the fourth calendar quarter of each year, we anticipate that our quarterly dividends for the first three calendar quarters will be less than our dividend for the fourth calendar quarter. Dividends for each calendar quarter are typically paid in the following calendar quarter. The declaration and payment of any future dividends will be at the sole discretion of our Board of Directors, which may change our dividend policy at any time. Our ability to pay these dividends may be limited by, among other things, contractual restrictions and legal, tax and regulatory restrictions applicable to us and our subsidiaries.
Please click here for our recently filed annual report, which provides additional information related to our dividend policy.