OPPENHEIMER HOLDINGS INC. DECLARES SPECIAL DIVIDEND

Rhea-AI Summary

Oppenheimer Holdings Inc. (NYSE: OPY) announced a special cash dividend of $1.00 per share, to be paid on December 31, 2021, to shareholders on record by December 27, 2021. The total payout will be approximately $12.5 million and will be funded through existing cash. Additionally, the company has increased its quarterly dividend by 25% to $0.15 per share starting in Q2 2021. CEO Albert G. Lowenthal expressed confidence in the company’s strong operating results despite recent market challenges.

Positive

• Special cash dividend of $1.00 per share enhances shareholder income.
• Total payout of approximately $12.5 million signifies strong financial health.
• Quarterly dividend increased by 25% to $0.15 per share, indicating company confidence.

Negative

• None.

NEW YORK, Dec. 14, 2021 /PRNewswire/ - Oppenheimer Holdings Inc. (NYSE: OPY) (the "Company" or "Firm) today announced that its Board of Directors has declared a special cash dividend on the Company's Class A non-voting and Class B voting common stock of $1.00 per share, payable December 31, 2021, to shareholders of record at the close of business on December 27, 2021. The aggregate payment will be approximately $12.5 million. The special dividend will be funded through existing cash.

Albert G. Lowenthal, Chairman and CEO commented: "We are pleased that the Firm's operating results for a second consecutive year have been outstanding, permitting us to again reward shareholders with a special year-end dividend of $1.00 per share. This is in addition to the $0.03, or 25%, increase in the quarterly dividend to $0.15 per share effective in the second quarter of 2021.  Despite recent market turbulence surrounding Coronavirus variants, we remain optimistic about the Company's competitive position and prospects in a continuing strong economy."

Company Information

Oppenheimer Holdings Inc., through its operating subsidiaries, is a leading middle market investment bank and full service broker-dealer that is engaged in a broad range of activities in the financial services industry, including retail securities brokerage, institutional sales and trading, investment banking (corporate and public finance), equity and fixed income research, market-making, trust services, and investment advisory and asset management services. With roots tracing back to 1881, the Company is headquartered in New York and has 92 retail branch offices in the United States and has institutional businesses located in London, Tel Aviv, and Hong Kong.

Forward-Looking Statements

This press release includes certain "forward-looking statements" relating to anticipated future performance including the projected impact of COVID-19 on the Company's business, financial performance, and operating results. The following factors, among others, could cause actual results to vary from the forward-looking statements: the severity and duration of COVID-19; COVID-19's impact on the U.S. and global economies; and Federal, state and local governmental responses to COVID-19. For a discussion of other factors that could cause future performance to be different than anticipated, reference is made to Factors Affecting "Forward-Looking Statements" and Part 1A – Risk Factors in the Company's Annual Report on Form 10-K for the year ended December 31, 2020.

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SOURCE Oppenheimer Holdings Inc.

FAQ

When is the special dividend for Oppenheimer Holdings Inc. (OPY) payable?

The special dividend will be payable on December 31, 2021.

What is the amount of the special dividend declared by Oppenheimer Holdings Inc. (OPY)?

The special dividend amount is $1.00 per share.

What is the date of record for the special dividend for OPY?

The date of record is December 27, 2021.

What is the frequency of dividends paid by Oppenheimer Holdings Inc. (OPY)?

Oppenheimer Holdings Inc. pays quarterly dividends, with an increase announced for Q2 2021.

How much was the increase in the quarterly dividend for OPY?

The quarterly dividend was increased by 25%, from $0.12 to $0.15 per share.