Edelman Financial Group Inc. (EF: Quote) said Ric Edelman will assume the role of Chief Executive Officer. For the past year, both Edelman and George Ball had served as Co-Chief Executive Officers of the company. Ball will continue in his position as Chairman.
The company further announced that the Board of Directors declared a regular quarterly cash dividend in the amount of $0.05 per share of common stock. The dividend will be payable on July 19, 2012, to common shareholders of record as of the close of business on July 5, 2012.
Edelman Financial continues to expect that its take-private transaction will close in the third quarter.
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by RTT Staff Writer
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