Piper Jaffray Announces Initiation of a Quarterly Dividend
February 02 2017 - 8:05AM
Business Wire
Piper Jaffray board of directors declares a
quarterly cash dividend of $0.3125 per share for the first quarter
of 2017.
Piper Jaffray Companies (NYSE: 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 CallAndrew 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 JaffrayPiper Jaffray Companies (NYSE: 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 InformationThis
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
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version on businesswire.com: http://www.businesswire.com/news/home/20170202005197/en/
Piper Jaffray CompaniesTom Smith, 612-303-6336Chief Strategy
OfficerInvestor Relationsthomas.g.smith@pjc.comorPamela Steensland,
612-303-8185Head of Media Relationspamela.k.steensland@pjc.com
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