Invesco (IVZ) falls over 20%, here is why
Invesco falls over 20%, here is the recent news of why this happened.
- Invesco cuts its common share dividend in half to 15.5 cents per share from 31 cents to maintain financial flexibility through an uncertain environment.
- Due to the company’s reaction to the COVID-19 pandemic, assets under management declined during the quarter, which hurt Invesco’s revenue in Q1
- Invesco is said to be redeemed up to $200M of seed capital investments where appropriate from certain investment products in the near term.
- “Despite the extreme market volatility, total gross long-term inflows increased nearly 40% versus the prior quarter to a record $84.7B, resulting in strong net flows into several diverse areas, including institutional, our China JV, money market funds, EMEA ETFs and global fixed income,” said President and CEO Marty Flanagan.
Invesco incorporated on September 12, 2007, is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives.