Piper Sandler Offers Stockholders a New Share Buyback Program

Core Viewpoint - Piper Sandler Companies (PIPR) has initiated a new share repurchase plan, allowing for the buyback of up to $150 million worth of shares, effective immediately until December 31, 2026 [1] Share Repurchase and Dividend Actions - The new buyback program follows a previous authorization from May 2022, which also allowed for the repurchase of up to$150 million worth of shares, set to expire on December 31, 2024 [1] - Piper Sandler has consistently raised dividends, increasing its dividend 11 times in the last five years, with the latest hike of 8.3% to 65 cents per share, resulting in a current dividend yield of 0.80% based on a closing price of $319.36 [2] Capital Distribution Policy - The company aims to return 30-50$3.65 per share, announced in January and payable in March [3] Strategic Growth Initiatives - Piper Sandler is expanding through strategic acquisitions, including the acquisition of Aviditi Advisors in August 2024, which enhances its private capital advisory capabilities [4] - The company has been diversifying its revenue base and expanding its market share through these strategic buyouts, enhancing its scale and capabilities [4] Financial Performance and Market Position - Supported by strong earnings and a solid balance sheet, Piper Sandler is expected to continue effective capital distribution activities, enhancing shareholder value [5] - Over the past year, PIPR shares have increased by 73.6%, outperforming the investment bank industry's rally of 55.9% [5]