Piper Jaffray Companies PJC, a leading investment bank and asset management firm, today announced that its board of directors has authorized the initiation of a dividend program under which Piper Jaffray intends to pay a regular quarterly cash dividend to shareholders of its common stock. In connection with the dividend program, the board declared a cash dividend on the company's common stock of $0.3125 per share for the first quarter of 2017, payable March 13, 2017, to shareholders of record at the close of business on February 20, 2017. This marks the first time in its history that Piper Jaffray has paid a dividend to its shareholders.
"We've consistently strived to return capital to our shareholders through our share repurchase program. The growth and diversification of our business enabled us to add a quarterly dividend as another way to return capital to shareholders, while still ensuring that we have sufficient capital to continue to invest in and grow our business," said Andrew Duff, chairman and chief executive officer of Piper Jaffray.
As of December 31, 2016, Piper Jaffray had 15,218,050 common shares outstanding and 14,562 shareholders of record.
Future declarations of quarterly dividends are subject to the determination and discretion of the Piper Jaffray board of directors.
Conference Call
Andrew Duff, chairman and chief executive
officer, and Debbra Schoneman, chief financial officer, will host a
conference call to discuss fourth quarter and full-year 2016 financial
results, as well as the quarterly dividend, on Thursday, February 2,
2017 at 9 a.m. ET (8 a.m. CT). The earnings release will be available on
or after February 2, 2017 at the firm's website at piperjaffray.com.
The call can be accessed via webcast or by dialing 888 810-0209 or 706
902-1361 (international) and referencing reservation #48531107. Callers
should dial in at least 15 minutes prior to the call time. A replay of
the conference call will be available beginning at approximately 12 p.m.
ET (11 a.m. CT) on February 2, 2017 at piperjaffray.com
or by calling 855 859-2056 and referencing reservation #48531107.
About Piper Jaffray
Piper Jaffray Companies PJC is a
leading investment bank and asset management firm. Securities brokerage
and investment banking services are offered in the U.S. through Piper
Jaffray & Co., member SIPC and FINRA; in Europe through Piper Jaffray
Ltd. and Simmons & Company International Limited, authorized and
regulated by the U.K. Financial Conduct Authority; and in Hong Kong
through Piper Jaffray Hong Kong Limited, authorized and regulated by the
Securities and Futures Commission. Asset management products and
services are offered through five separate investment advisory
affiliates―U.S. Securities and Exchange Commission (SEC) registered
Advisory Research, Inc.; Piper Jaffray Investment Management LLC, PJC
Capital Partners LLC and Piper Jaffray & Co.; and Guernsey-based
Parallel General Partners Limited, authorized and regulated by the
Guernsey Financial Services Commission.
Cautionary Note Regarding Forward-Looking Information
This
announcement contains forward-looking statements, including without
limitation those regarding Piper Jaffray's future business outlook and
plans to pay quarterly dividends to its shareholders. Statements that
are not historical or current facts, including statements about beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties, and important
factors could cause actual results to differ materially from those
anticipated. These factors are identified under "Risk Factors" in Part
I, Item 1A of our Annual Report on Form 10-K for the year ended December
31, 2015, and updated in our subsequent reports filed with the SEC.
These reports are available at www.piperjaffray.com
or www.sec.gov.
Forward-looking statements speak only as of the date they are made, and
we undertake no obligation to update them in light of new information or
future events.
© 2017 Piper Jaffray Companies, 800 Nicollet Mall, Suite 1000, Minneapolis, Minnesota 55402-7036
View source version on businesswire.com: http://www.businesswire.com/news/home/20170202005197/en/
Piper Jaffray Companies
Tom Smith, 612-303-6336
Chief Strategy
Officer
Investor Relations
thomas.g.smith@pjc.com
or
Pamela
Steensland, 612-303-8185
Head of Media Relations
pamela.k.steensland@pjc.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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