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EX - 99.1 2 dhil - 20210930xexx991.htm EX - 99.1 FOR IMMEDIATE RELEASE : COLUMBUS , Ohio - October 26 , 2021 results for the third quarter of 2021 . ● ● Q -- DIAMOND HILL GROUP INVESTMENT Investor Contact : Tom Line Chief Financial Officer 614-255-5989 ( tline@diamond-hill.com ) DIAMOND HILL INVESTMENT GROUP , INC . REPORTS RESULTS FOR THIRD QUARTER 2021 AND ANNOUNCES SPECIAL DIVIDEND Media Contact : Lara Hoffmans Managing Director - Marketing 614-255-5550 ( lhoffmans@diamond-hill.com ) The following are selected highlights for the quarter ended September 30 , 2021 : Assets under management ( " AUM " ) were $ 29.2 billion compared to $ 32.4 billion as of June 30 , 2021 , and $ 22.3 billion as of September 30 , 2020 , with a reduction of $ 3.5 billion resulting from the sale of our high yield - focused advisory contracts during the quarter . Dividends : Diamond Hill Investment Group , Inc. ( NASDAQ : DHIL ) today reported unaudited financial Average AUM was $ 30.7 billion compared to $ 22.0 billion during the third quarter of 2020 . Net client inflows were $ 220 million , compared to $ 98 million of net inflows for the same period in 2020 . Revenue was $ 55.1 million , compared to $ 31.2 million in the third quarter of 2020. The Company recorded $ 11.9 million of performance - based fees during the third quarter of 2021. The Company did not record any performance - based fees during the three months ended September 30 , 2020 . Operating profit margin was 51 % compared to 32 % for the third quarter of 2020. Operating profit margin , as adjusted , was 51 % compared to 38 % for the third quarter of 2020 . Investment loss was $ 2.6 million compared to investment income of $ 5.1 million for the third quarter of 2020 . The Company recorded a gain of $ 9.0 million related to the sale of our high yield - focused advisory contracts during the third quarter 2021 . Net income attributable to common shareholders was $ 25.6 million compared to $ 10.6 million during the third quarter of 2020 . Earnings per share attributable to common shareholders - diluted was $ 8.03 compared to $ 3.30 in the third quarter of 2020 . The Company returned a total of $ 3.2 million to its shareholders via a $ 1.00 per share dividend and repurchased 31,468 shares totaling $ 5.6 million during the quarter . " We are pleased that our continued focus on generating excellent long - term investment outcomes for our clients has resulted in another strong quarter of financial results , " said Heather Brilliant , president and CEO . " We believe our strong financial position benefits clients and has enabled us to continue returning capital to shareholders , including an increase in our quarterly dividend for 2022 and the payment of a special dividend for the 14th consecutive year . " The Company today announced that its board of directors has approved payment of a regular quarterly cash dividend for the fourth quarter of 2021 of $ 1.00 per share . The board of directors also approved a special cash dividend of $ 19.00 per share . Both the fourth quarter regular dividend and the special dividend will be paid on December 10 , 2021 , to shareholders of record as of November 29 , 2021. The Company expects 100 % of the distributions to be classified as qualified dividends . " Our capital allocation approach is designed to ensure we have sufficient cash to operate our business in any market environment . After considering strategic capital deployment , which includes seeding new investment strategies and adding capital to existing strategies to get them to scale , we return excess capital to shareholders , " Brilliant added . " When we believe our shares are trading at a discount to our