KBW, Inc. (NYSE: KBW), a full-service investment bank that specializes in the financial services sector, today announced that its Board of Directors had declared a special dividend of two dollars ($2.00) per share on the company’s common stock. The dividend is payable on December 17, 2012 to shareholders of record at the close of business on December 10, 2012.
On November 5, 2012, KBW announced that it had entered into a merger agreement with Stifel Financial Corp. The merger agreement provides that the cash portion of the merger consideration will be reduced to reflect the payment of the special dividend.
KBW, Inc., headquartered in New York, operates in the U.S. and Europe through its broker dealer subsidiaries, Keefe, Bruyette & Woods, Inc., and Keefe, Bruyette & Woods Limited. Celebrating its 50th anniversary, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking, real estate and specialty finance sectors. Founded in 1962, the firm maintains industry-leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities and debt securities of financial services companies.
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