UPDATE: JMP Group Declares Quarterly Dividend and Increases Share Repurchase Authorization
JMP Group (NYSE: JMP), an investment banking and alternative asset management firm, announced today that its board of directors declared a cash dividend of $0.035 per share for the fourth quarter of 2012 to be paid on Friday, April 5, 2013 to common stockholders of record as of Friday, March 22, 2013.
Furthermore, the board of directors authorized the repurchase of up to 1,252,383 additional shares of the company's outstanding common stock through December 31, 2014. Under the board's prior authorization, which was granted in October 2012, 747,617 shares remained eligible for repurchase through December 13, 2013. The latest authorization brings the total number of shares eligible for repurchase to 2,000,000 and extends the timeline through year-end 2014 for the entire amount.
About JMP Group
JMP Group Inc. is a full-service investment banking and asset management firm that provides investment banking, sales and trading, and equity research services to corporate and institutional clients as well as alternative asset management products to institutional and high-net-worth investors. JMP Group operates through three subsidiaries: JMP Securities, Harvest Capital Strategies and JMP Credit Advisors. For more information, visit www.jmpg.com.
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