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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

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FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 26, 2005

WESTWOOD HOLDINGS GROUP, INC.
(Exact name of registrant as specified in charter)

Delaware               001-31234          75-2969997
(State or other jurisdiction    (Commission       (IRS Employer
of incorporation)          File Number)    Identification No.)

200 Crescent Court, Suite 1200
Dallas, Texas 75201
(Address of principal executive offices)

(214) 756-6900
(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ]   Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)

[ ]   Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)

[ ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

[ ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))

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ITEM 2.02:   RESULTS OF OPERATIONS AND FINANCIAL CONDITION

In accordance with Securities and Exchange Commission Release No. 34-47583, the
following information, which is being furnished pursuant to the requirements of
Item 2.02, "Results of Operations and Financial Condition," is being reported
under Item 7.01, "Regulation FD Disclosure."

On July 26, 2005, Westwood Holdings Group, Inc. issued a press release entitled
"Westwood Holdings Group, Inc. Announces 12.5% Increase in Quarterly Dividend, a
Special Cash Dividend of $0.75 per Share and Second Quarter 2005 Results," a
copy of which is furnished with this Current Report on Form 8-K as Exhibit 99.1.
The information in this Current Report on Form 8-K shall not be deemed to be
"filed" for the purposes of Section 18 of the Securities Exchange Act of 1934,
as amended, or otherwise subject to the liabilities of that Section, nor shall
it be deemed incorporated by reference in any filing of the Company under the
Securities Act of 1933, as amended.

ITEM 7.01:   REGULATION FD DISCLOSURE

Westwood announced today that its Board of Directors has approved the payment of
a quarterly cash dividend of $0.09 per common share and a special dividend of
$0.75 per common share, payable on October 3, 2005 to stockholders of record on
September 15, 2005.

ITEM 9.01:   FINANCIAL STATEMENTS AND EXHIBITS

(c)  Exhibits: The following exhibit is furnished with this report:

Exhibit Number    Description
--------------    --------------------------------------------------------------
99.1              Press Release dated July 26, 2005, entitled "Westwood Holdings
Group, Inc. Announces 12.5% Increase in Quarterly Dividend, a
Special Cash Dividend of $0.75 per Share and Second Quarter
2005 Results"

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Date: July 26, 2005

WESTWOOD HOLDINGS GROUP, INC.

By: /s/  Brian O. Casey
-------------------------------------
Brian O. Casey,
President and Chief Operating Officer

EXHIBIT INDEX

Exhibit Number    Description
--------------    --------------------------------------------------------------
99.1          Press Release dated July 26, 2005, entitled "Westwood Holdings
Group, Inc. Announces 12.5% Increase in Quarterly Dividend, a
Special Cash Dividend of $0.75 per Share and Second Quarter
2005 Results"

Exhibit 99.1

WESTWOOD HOLDINGS GROUP, INC. ANNOUNCES 12.5% INCREASE IN QUARTERLY DIVIDEND,
A SPECIAL CASH DIVIDEND OF $0.75 PER SHARE AND SECOND QUARTER 2005 RESULTS

DALLAS, July 26 /PRNewswire-FirstCall/ -- Westwood Holdings Group, Inc.
(NYSE: WHG) today announced that its Board of Directors has approved the payment
of a quarterly cash dividend of $0.09 per common share, an increase of 12.5%
from the previous quarterly dividend of $0.08 per share. The Board has also
approved the payment of a special cash dividend of $0.75 per share in order to
return excess cash to our stockholders. Both the quarterly and special dividends
will be payable on October 3, 2005 to stockholders of record on September 15,
2005.

Westwood also today reported 2005 second quarter revenues of $5.3 million,
net income of $937,000 and earnings per diluted share of $0.17. This compares to
revenues of $4.9 million, net income of $988,000 and earnings per diluted share
of $0.18 in the second quarter of 2004. For the six months ended June 30, 2005,
Westwood reported revenues of $10.3 million and net income of $1.8 million, or
$0.32 per diluted share, compared to revenues of $10.0 million and net income of
$2.1 million, or $0.39 per diluted share, for the same 2004 period.

Total expenses for the second quarter of 2005 were $3.7 million compared to
$3.3 million for the second quarter of 2004, an increase of approximately
$386,000. Employee compensation and benefits costs increased by approximately
$334,000 compared to the 2004 second quarter, primarily due to higher restricted
stock expense as a result of our continued efforts to build the firm for future
growth. Information technology expense increased by approximately $32,000
primarily as a result of increased software costs, including the cost to
implement a new customer relationship management system that will enhance our
ability to manage our client relationships and prospect pipeline. Professional
services costs increased by approximately $27,000 primarily as a result of
higher professional fees related to external audit and Sarbanes-Oxley compliance
as well as higher subadvisory fees due to increased assets under management at
Westwood Trust.

Assets under management were $4.3 billion as of June 30, 2005, an increase
of 11.3% compared to $3.8 billion on June 30, 2004. Average assets under
management for the first six months of 2005 were $4.2 billion, an increase of
8.2% compared with the first half of 2004. The increase in period ending assets
under management was principally attributable to market appreciation of assets
under management and asset inflows from new clients, partially offset by the
withdrawal of assets by certain clients.

Susan M. Byrne, Westwood's founder and Chief Executive Officer commented,
"While costs associated with restricted stock have penalized near term earnings,
we are confident that this form of compensation strongly aligns the interests
and incentives of our employees with our clients and stockholders and provides
the foundation for growth and stronger results in the future."

Brian O. Casey, Westwood's President and Chief Operating Officer added, "We
are pleased to have received a meaningful placement in the second quarter from a
new client in our SMidCap Value product, which continues to gain scale and
traction in the institutional marketplace and now has $300 million in assets
under management. We are especially gratified by this win, as it resulted from a
long-standing relationship with an institutional consulting firm that knows our
people and process well and was introduced to this new product by our recent
institutional marketing efforts around this product. We believe our SMidCap
product represents a meaningful opportunity to grow our institutional assets. We
continue to look for ways to grow our business through our continuing focus on
strong product performance produced by our proprietary research and investment
process, increased targeted marketing efforts and exploration of enhanced
distribution opportunities."

About Westwood
Westwood Holdings Group, Inc. manages investment assets and provides
services for its clients through two subsidiaries, Westwood Management Corp. and
Westwood Trust. Westwood Management Corp. is a registered investment advisor and
provides investment advisory services to corporate pension funds, public
retirement plans, endowments and foundations, mutual funds and clients of
Westwood Trust. Westwood Trust provides, to institutions and high net worth
individuals, trust and custodial services and participation in common trust
funds that it sponsors. Westwood Holdings Group, Inc. trades on the New York
Stock Exchange under the symbol "WHG". For more information, please visit the
Company's website at http://www.westwoodgroup.com .

Note on Forward-looking Statements
Statements that are not purely historical facts, including statements about
anticipated or expected future revenue and earnings growth and profitability, as
well as other statements including words such as "anticipate," "believe,"
"plan," "estimate," "expect," "intend," "should," "could," "goal," "target,"
"designed," "on track," "continue," "comfortable with," "optimistic," "look
forward to" and other similar expressions, constitute forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements are subject to known and unknown risks, uncertainties
and other factors, which may cause actual results to be materially different
from those contemplated by the forward-looking statements. Such factors include
the risks and uncertainties referenced in our documents filed with, or furnished
to, the Securities and Exchange Commission, including without limitation those
identified under the caption "Forward-Looking Statements and Risk Factors" in
the Company's Annual Report on Form 10-K filed with the Securities and Exchange
Commission. We undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. Readers are cautioned not to place undue reliance on
forward- looking statements.

WESTWOOD HOLDINGS GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share amounts)
(unaudited)

Three months ended         Six months ended
June 30,                  June 30,
-----------------------   -----------------------
2005         2004         2005         2004
----------   ----------   ----------   ----------

REVENUES:
Advisory fees                      $    3,309   $    3,249   $    6,500   $    6,669
Trust fees                              1,668        1,442        3,371        2,894
Other revenues                            276          249          464          420
Total revenues                       5,253        4,940       10,335        9,983

EXPENSES:
Employee compensation

and benefits                            2,681        2,347        5,279        4,684
Sales and marketing                        145          148          227          248
Information technology                     192          160          377          332
Professional services                      274          247          593          471
General
and administrative                        435          439          912          820
Total expenses                          3,727        3,341        7,388        6,555
Income before

income taxes                              1,526        1,599        2,947        3,428
Provision

for income taxes                            589          611        1,135        1,323
Net income                            $      937   $      988   $    1,812   $    2,105

Earnings per share:
Basic                               $     0.17   $     0.18   $     0.33   $     0.39
Diluted                             $     0.17   $     0.18   $     0.32   $     0.39

WESTWOOD HOLDINGS GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS
As of June 30, 2005 and December 31, 2004
(in thousands, except par values and share amounts)
(unaudited)

June 30,     December 31,
2005           2004
------------   ------------
ASSETS

Current Assets:
Cash and cash equivalents                         $      1,656   $        720
Accounts receivable                                      1,966          1,832
Investments, at market value                            18,532         18,632
Other current assets                                       221            414
Total current assets                                  22,375         21,598
Goodwill                                                 2,302          2,302
Deferred income taxes                                      818            517
Property and equipment, net of accumulated
depreciation of $385 and $250                           1,723          1,860
Total assets                                    $     27,218   $     26,277

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:
Accounts payable and accrued liabilities          $        612   $        629
Dividends payable                                          461            460
Compensation and benefits payable                        1,577          2,703
Income taxes payable                                        87             --
Other current liabilities                                    6             17
Total current liabilities                              2,743          3,809
Deferred rent                                                815            805
Total liabilities                                      3,558          4,614

Stockholders' Equity:
Common stock, $0.01 par value,
authorized 10,000,000 shares, issued and
outstanding 5,759,397 shares
at June 30, 2005; issued and outstanding
5,754,147 shares at December 31, 2004                      58             58
Additional paid-in capital                              17,128         16,962
Unamortized stock compensation                          (3,881)        (4,821)
Retained earnings                                       10,355          9,464
Total stockholders' equity                            23,660         21,663

Total liabilities and stockholders' equity          $     27,218   $     26,277

Investor Relations

(214) 756-6900

SOURCE  Westwood Holdings Group, Inc.
-0-                             07/26/2005
/CONTACT:  Bill Hardcastle of Westwood Holdings Group, Inc.,
+1-214-756-6383/
/Web site:  http://www.westwoodgroup.com /

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