Stifel Financial Corp may revive the common stock dividend it eliminated more than a decade ago because it has enough cash to also keep expanding its retail brokerage and investment banking businesses, Chief Executive Ron Kruszewski said Wednesday.At a conference sponsored by Keefe, Bruyette & Woods, an investment bank Stifel bought in 2013, Kruszewski said his St. Louis-based company has been cautious about restoring the dividend it stopped paying in 2002 because it does not want to send a message that it has no more growth potential through acquisitions and other business investments.Stifel, which has acquired more than 10 banking and brokerage businesses since 2005, also plans to be more aggressive with pay packages to recruit retail brokers. "We can be more competitive in recruiting as an organization," he said. "Our growth in the last two years has been muted."Stifel, which went public in 1986, previously paid a dividend of 3 cents a share to its common stockholders.
Stifel Financial Corp. is a financial holding company. Shares of SF fell by 0.92% or $-0.43/share to $46.25. In the past year, the shares have traded as low as $41.47 and as high as $51.59. On average, 312812 shares of SF exchange hands on a given day and today's volume is recorded at 152360.
Stanfield Funds Management Limited (Stanfield) is an Australia-based company. Shares of SFN fell by 0.12% or $-0.0315/share to $25.77. In the past year, the shares have traded as low as $24.66 and as high as $27.49. On average, 10294 shares of SFN exchange hands on a given day and today's volume is recorded at 1702.
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