Investment bank FBR & Co. said late Friday its board of directors has declared a special cash dividend of $7.61 per common share. That special dividend is in connection with FBR's merger with B. Riley Financial Inc. , announced in February, and it is contingent upon the closing of the merger. The dividend is payable June 1 to shareholders of record May 30. Shares of FBR were flat in after-hours trading after ending the regular session down 0.6%.
Copyright © 2017 MarketWatch, Inc.
Continue Reading Below