Diamond Hill Investment Group reported a decrease in revenue and net operating income for Q4 2023 compared to Q4 2022, while net income attributable to common shareholders also decreased. The company's AUM and AUA combined was $29.2 billion. Despite challenges, the company ended the year in a stronger position, with growth in fixed income improving business diversification.
Assets under management and advisement totaled $29.2 billion.
Net client outflows were $494.0 million.
Revenue was $33.821 million, a 3% decrease year-over-year.
The board approved a regular quarterly cash dividend of $1.50 per common share.
The company may make forward-looking statements regarding anticipated operating results, prospects and levels of assets under management, technological developments, economic trends (including interest rates and market volatility), expected transactions and similar matters.
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