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July 27 , 2021 W WestwoodⓇ Westwood Holdings Group , Inc. Reports Second Quarter 2021 Results Westwood's Best Sales Quarter Since 2016 Strong Performance Across Multiple Asset Strategies Regular Dividend of $ 0.10 Per Share Declared and Special Dividend of $ 2.50 Per Share Declared DALLAS , July 27 , 2021 ( GLOBE NEWSWIRE ) -- Westwood Holdings Group , Inc. ( NYSE : WHG ) today reported second quarter 2021 earnings . Significant items include : ■ Revenues of $ 17.5 million vs. the first quarter's $ 18.3 million and $ 15.9 million a year ago . ■ Net income of $ 1.0 million vs. the first quarter's $ 4.1 million , which included net realized and unrealized gains of $ 6.0 million on private investments , and vs. a $ 2.6 million net loss in last year's second quarter . ■ LargeCap Value , SmallCap Value , Total Return , High Income and Alternative Income strategies all beat their primary benchmarks for the quarter . ■ In peer rankings , High Income achieved a top decile ranking , Income Opportunity and Total Return were top quartile , and SmallCap Value made the top 40 % . ■ Westwood held $ 92.3 million in cash and short - term investments as of June 30 , 2021 , up $ 5.4 million from the first quarter of 2021 . ■ Stockholders ' equity was $ 134.7 million as of June 30 , 2021 and we continue to have no debt . ■ Non - GAAP economic earnings totaled $ 2.8 million vs. the first quarter's $ 6.3 million , which included the net private investment gains referred to above , and vs. $ 0.2 million a year ago . ■ We repurchased 18,866 shares of our common stock for an aggregate cost of $ 0.3 million . ■ We declared a regular cash dividend of $ 0.10 per common share , payable on October 1 , 2021 to stockholders of record on September 3 , 2021 . ■ We declared a special cash dividend of $ 2.50 per common share , payable on August 20 , 2021 to stockholders of record on August 6 , 2021 . Brian Casey , Westwood's President and CEO , commented , " I was very gratified that our strengthened sales and distribution teams succeeded in converting so many pipeline opportunities into our best sales quarter since 2016. We continually assess our capital structure against our capital allocation priorities and , in addition to investing in organic growth and maintaining a strong balance sheet , a key priority for Westwood is returning capital to our shareholders to enhance long - term value . Given the positive momentum in our business , as confirmed by this quarter's record net sales and the company's robust cash position and outlook , we are pleased to declare a special dividend of $ 2.50 per share payable August 20 , 2021 , supplementing the regular dividend and current share repurchase plan the Company has in place . New net inflows totaled $ 1 billion , excluding the effect of our decision last year to transition our Global Convertibles team managing $ 1.6 billion back to Aviva Investors , which took place on April 1st . A positive effect of this transition is that the fee mix of our business will benefit from the higher pricing of our new fundings versus the assets we decided to return to Aviva . Performance has remained strong in our Multi - Asset product suite and is improving across our Value strategies , where we have initiated a soft close for SmallCap . We believe that the value style's return to favor should provide a tailwind for investor and consultant interest in our long - standing approach to investing . " Revenues were lower than the first quarter mainly due to lower performance - based fees . Revenues were higher than last year's second quarter reflecting higher average assets under management ( " AUM " ) .