JMP Group Declares Third Quarter 2015 Monthly Distributions and Special Distribution
20 Juli 2015 - 3:00PM
Business Wire
JMP Group LLC (NYSE:JMP), an investment banking and alternative
asset management firm, announced today that its board of directors
has declared regular cash distributions of $0.04 per share for the
months of July, August and September 2015, as well as a special
cash distribution of $0.03 per share.
In total, the three monthly distributions equal $0.12 per share
for the third quarter of the year, an increase of 8.1% from $0.111
per share for the prior quarter and an increase of 100.0% from the
cash dividend of $0.06 per share paid during the third quarter of
2014, when the company was structured as a C-corporation.
“Our third quarter cash distribution of $0.12 per share equates
to an annualized yield of more than 6%, based on our most recent
closing price,” said Chairman and Chief Executive Officer Joe
Jolson. “Considering that we currently intend to retain all
earnings generated by our taxable operating subsidiaries, we are
pleased that we have been able to increase our regular, monthly
cash distributions each quarter this year and also make a special
distribution for the first half, based on the investment
performance of the publicly traded partnership.”
The July and special distributions are payable on or before
August 15, 2015, to shareholders of record as of July 31, 2015. The
August distribution is payable on or before September 15, 2015, to
shareholders of record as of August 31, 2015. The September
distribution is payable on or before October 15, 2015, to
shareholders of record as of September 30, 2015.
About JMP Group
JMP Group LLC is an investment banking and asset management firm
that provides investment banking, equity research, and sales and
trading services to corporate and institutional clients as well as
alternative asset management products and services to institutional
and high-net-worth investors. JMP Group conducts its investment
banking and research, sales and trading activities through JMP
Securities; its hedge fund and other investment activities though
Harvest Capital Strategies; the underwriting and management of
investments in senior secured debt through JMP Credit Advisors; and
the management of Harvest Capital Credit Corporation (NASDAQ:
HCAP), a business development company that finances small and
midsized businesses, through HCAP Advisors. For more information,
visit www.jmpg.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150720005413/en/
Investor Relations ContactJMP Group LLCAndrew Palmer,
415-835-8978apalmer@jmpg.comorMedia Relations ContactsDukas
Public RelationsSeth Linden, 212-704-7385seth@dukaspr.comZach
Leibowitz, 212-704-7385zach@dukaspr.com
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