Piper Jaffray Companies (PJC) Announces $150M Share Repurchase Authorization

Piper Jaffray Companies (NYSE: PJC), a leading investment bank and institutional securities firm, today announced that its board of directors has authorized the repurchase of up to $150 million of the company's outstanding common stock. The share repurchase program will be used as part of the company’s capital allocation strategy, which includes returning capital to its shareholders, and to offset the dilutive effect of employee equity-based compensation. The authorization becomes effective on January 1, 2020. The company’s previous $150 million repurchase authorization expired on September 30, 2019. The new $150 million authorization will expire on December 31, 2021. As of November 1, 2019, the company had 14,357,301 million shares of common stock outstanding.

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