Raymond James Financial Declares Quarterly Dividends on Common and Preferred Stock

Rhea-AI Summary

Raymond James Financial, Inc. declares a quarterly cash dividend of $0.45 per share on its common stock and $0.3984375 per depositary share on its Series B Non-Cumulative Perpetual Preferred Stock, benefiting shareholders.

Financial Analyst

The declaration of a quarterly cash dividend by Raymond James Financial, Inc. is a reflection of the company's current financial health and its ability to generate sufficient cash flow. The consistency of dividend payments can be a signal of stable financial performance, which is typically well-received by investors. The specified dividend of $0.45 per share represents the company's commitment to returning value to shareholders and can be seen as a positive indicator of confidence by the company's management in its future earnings and cash flow stability.

Moreover, the dividend yield, calculated by annualizing the quarterly dividend and dividing by the stock's price, is a critical metric for income-focused investors. It's important to compare this yield to industry averages and fixed income alternatives to assess the attractiveness of the stock from a dividend perspective.

For long-term stakeholders, consistent dividend payments can compound over time, contributing significantly to total returns. However, investors should also be aware of the payout ratio, which is the proportion of earnings paid out as dividends. An excessively high payout ratio may not be sustainable in the long run and could signal potential cash flow issues.

Market Research Analyst

The announcement of the dividend for the Series B Non-Cumulative Perpetual Preferred Stock is noteworthy for investors who focus on fixed income securities. The fixed-to-floating rate feature of this preferred stock indicates that the dividend rate is fixed for a certain period, after which it will float in relation to a benchmark interest rate. This structure provides investors with a measure of protection against interest rate fluctuations.

Investors in preferred stocks typically seek stability and are less concerned with capital appreciation. The non-cumulative aspect of the preferred shares means that if a dividend is missed, it is not owed in the future, which can be a risk factor to consider. However, the perpetual nature of these shares implies no maturity date, potentially offering investors a steady stream of income indefinitely.

Understanding the specific terms of preferred stock is crucial for investors as they weigh the trade-offs between risk and reward. The market's reception to such dividend announcements can also be influenced by the broader interest rate environment and the perceived creditworthiness of the company.

ST. PETERSBURG, Fla., Feb. 23, 2024 (GLOBE NEWSWIRE) -- On February 23, 2024, the Raymond James Financial, Inc. (NYSE: RJF) Board of Directors declared a quarterly cash dividend on shares of its common stock of $0.45 per share, payable April 15, 2024 to shareholders of record on April 1, 2024.

The Board declared a quarterly dividend of $0.3984375 per depositary share of 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock (NYSE:  RJF PrB) payable April 1, 2024, to shareholders of record on March 15, 2024. 

About Raymond James Financial, Inc.

Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 8,700 financial advisors. Total client assets are $1.38 trillion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com.

Forward-Looking Statements

Certain statements made in this press release may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future shareholder distributions. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in our filings with the Securities and Exchange Commission (the “SEC”) from time to time, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, which are available at www.raymondjames.com and the SEC’s website at www.sec.gov. We expressly disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether as a result of new information, future events, or otherwise.

What is the quarterly cash dividend declared by Raymond James Financial, Inc. on its common stock?

Raymond James Financial, Inc. declared a quarterly cash dividend of $0.45 per share on its common stock.

When will the quarterly cash dividend be payable to shareholders of Raymond James Financial, Inc.?

The quarterly cash dividend will be payable on April 15, 2024, to shareholders of record on April 1, 2024.

How much is the quarterly dividend declared on the Series B Non-Cumulative Perpetual Preferred Stock of Raymond James Financial, Inc.?

The quarterly dividend declared on the Series B Non-Cumulative Perpetual Preferred Stock is $0.3984375 per depositary share.

When will the dividend on the Series B Non-Cumulative Perpetual Preferred Stock be payable?

The dividend on the Series B Non-Cumulative Perpetual Preferred Stock will be payable on April 1, 2024, to shareholders of record on March 15, 2024.