Raymond James Financial (RJF) launches $2B share repurchase plan and declares cash dividends

Rhea-AI Filing Summary

Raymond James Financial reported that its board declared a quarterly dividend of $0.54 per share on its common stock, payable on January 16, 2026 to shareholders of record on January 2, 2026. The board also declared a quarterly cash dividend of $0.3984375 per depositary share of its 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock, payable January 1, 2026 to holders of record on December 15, 2025.

In addition, the board authorized repurchases of the company’s common stock in an aggregate amount of up to $2 billion. This new authorization replaces the prior $1.5 billion program announced on December 3, 2024, under which about $105 million remained as of December 2, 2025. Repurchases may be made from time to time in the open market, in privately negotiated transactions, or otherwise, and the authorization has no fixed expiration date and may be suspended or discontinued at any time.

Positive

• Board authorizes up to $2 billion common stock repurchase program, replacing a prior $1.5 billion authorization with $105 million remaining as of December 2, 2025.
• Continued cash returns via dividends, including a $0.54 per share common dividend and $0.3984375 per preferred depositary share dividend with scheduled payments in early January 2026.

Negative

• None.

Insights

Equity Capital Allocation Analyst

RJF boosts capital returns with higher buyback capacity and steady dividends.

Raymond James Financial is combining ongoing cash returns via dividends with significant flexibility to repurchase stock. The company declared a common stock dividend of $0.54 per share and a preferred depositary share dividend of $0.3984375, with record and payment dates spaced around early January 2026. This signals a continuation of its current dividend policy.

The headline change is the board’s authorization to repurchase up to $2 billion of common stock, replacing a prior $1.5 billion authorization that had about $105 million remaining as of December 2, 2025. The authorization is open‑ended, may be executed through open‑market or negotiated transactions, and can be suspended or discontinued, so actual impact will depend on future management decisions and market conditions.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

December 3, 2025

Date of Report (date of earliest event reported)

RAYMOND JAMES FINANCIAL, INC.

(Exact name of registrant as specified in its charter)

Florida

1-9109

59-1517485

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

880 Carillon Parkway

St. Petersburg

Florida

33716

(Address of principal executive offices)

(Zip Code)

(727) 567-1000

(Registrant’s telephone number, including area code)

None

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock, $.01 par value			RJF			New York Stock Exchange
Depositary Shares, Each Representing a 1/40th Interest in a Share of 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock			RJF PrB			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

Item 7.01 Regulation FD Disclosure

On December 3, 2025, the Company issued a press release (the “Press Release”) announcing that the Board had declared on December 3, 2025 a quarterly dividend of $0.54 per share for each outstanding share of common stock of the Company. The dividend is payable on January 16, 2026 to shareholders of record on January 2, 2026.

The Press Release also announced that the Board declared a quarterly cash 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 January 1, 2026 to shareholders of record on December 15, 2025.

A copy of the Press Release is attached to this Current Report as Exhibit 99.1 and is incorporated herein by reference.

The information in this Item 7.01, including Exhibit 99.1 hereto, is being “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing of the Company with the Securities and Exchange Commission, whether made before or after the date hereof, regardless of any general incorporation language in such filings (unless the Company specifically states that the information or exhibit in this particular report is incorporated by reference).

Item 8.01 Other Events

The Press Release also announced that the Board had authorized repurchase of the Company’s shares of common stock (“Common Stock”) in an aggregate amount of up to $2 billion. The $2 billion authorization replaces the previous repurchase authorization of $1.5 billion announced on December 3, 2024, under which approximately $105 million was remaining as of December 2, 2025. The repurchases may be made from time to time at prices that the company deems appropriate and subject to market conditions, applicable law, regulatory constraints in connection with previously announced acquisitions and other factors. Such repurchases may be made in the open market, in privately negotiated transactions, or otherwise. The Board’s authorization does not have a fixed expiration date. The repurchase authorization does not obligate the company to repurchase any dollar amount or number of securities and may be suspended or discontinued at any time.

Information regarding repurchases of Common Stock will be available in the Company’s periodic reports on Form 10-Q and 10-K filed with the Securities and Exchange Commission as required by the applicable rules of the Exchange Act.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits. The following are filed as exhibits to this report:

Exhibit No.			Description
99.1			Press release, dated December 3, 2025, issued by Raymond James Financial, Inc.
104			Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			RAYMOND JAMES FINANCIAL, INC.
Date: December 4, 2025			By:			/s/ Jonathan W. Oorlog, Jr.
						Jonathan W. Oorlog, Jr.
						Chief Financial Officer

FAQ

What did Raymond James Financial (RJF) announce about its common stock dividend?

The board declared a quarterly dividend of $0.54 per share on RJF common stock, payable on January 16, 2026 to shareholders of record on January 2, 2026.

What dividend did RJF declare on its Series B preferred depositary shares?

RJF declared a quarterly cash dividend of $0.3984375 per depositary share of its 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock, payable January 1, 2026 to holders of record on December 15, 2025.

How large is Raymond James Financial’s new share repurchase authorization?

The board authorized repurchases of RJF common stock in an aggregate amount of up to $2 billion.

How does the new RJF buyback authorization compare with the prior one?

The new $2 billion authorization replaces a prior $1.5 billion authorization announced on December 3, 2024, which had about $105 million remaining as of December 2, 2025.

Does the RJF share repurchase authorization have an expiration date or require the company to buy stock?

The authorization has no fixed expiration date and does not obligate RJF to repurchase any specific dollar amount or number of shares; it may be suspended or discontinued at any time.

How may Raymond James Financial execute its authorized share repurchases?

RJF may repurchase common stock in the open market, in privately negotiated transactions, or otherwise, subject to market conditions, law, regulatory constraints related to acquisitions, and other factors.