OVERLAND PARK,Kan.--(BUSINESS WIRE)-- The Board of Directors of Waddell & Reed Financial, Inc. (NYSE: WDR) approved an increase in the quarterly dividend on its Class A common stock to $0.25 per share payable on February 1, 2012 to stockholders of record as of January 3, 2012. This new quarterly rate represents an increase of 25% over the previous $0.20 dividend per share rate. The Boards decision to increase our dividend reflects the companys strong capital position, said Henry J. Herrmann, chairman and chief executive officer, and our commitment to returning value to our stockholders.

Waddell & Reed Financial, Inc. will announce fourth quarter 2011 earnings before trading begins on the New York Stock Exchange, Tuesday, January 31, 2012, followed by a conference call at 10:00 a.m. Eastern. To listen to this call live on the internet, visit our Web site at www.waddell.com. A replay will be made available shortly after the conclusion of the call and accessible for seven days.

About the Company

Waddell & Reed, Inc., founded in 1937, is one of the oldest mutual fund complexes in the United States, having introduced the Waddell & Reed Advisors Group of Mutual Funds in 1940. Today, we distribute our investment products through the Waddell & Reed Advisors channel (our network of financial advisors), our Wholesale channel (encompassing broker/dealer, retirement, registered investment advisors as well as the activities of our Legend subsidiary), and our Institutional channel (including defined benefit plans, pension plans and endowments, and our subadvisory partnership with Mackenzie in Canada).

Through its subsidiaries, Waddell & Reed Financial, Inc. provides investment management and financial planning services to clients throughout the United States. Waddell & Reed Investment Management Company serves as investment advisor to the Waddell & Reed Advisors Group of Mutual Funds, Ivy Funds Variable Insurance Portfolios and Waddell & Reed InvestEd Portfolios, while Ivy Investment Management Company serves as investment advisor to Ivy Funds. Waddell & Reed, Inc. serves as principal underwriter and distributor to the Waddell & Reed Advisors Group of Mutual Funds, Ivy Funds Variable Insurance Portfolios and Waddell & Reed InvestEd Portfolios, while Ivy Funds Distributor, Inc. serves as principal underwriter and distributor to Ivy Funds.

Waddell & Reed Financial, Inc.
Nicole McIntosh, 913-236-1880
VP, Investor Relations

Source: Waddell & Reed Financial, Inc.