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Raymond James ups dividend, repurchase authorization

Raymond James Financial Inc. has increased its quarterly dividend and upped its securities repurchase authorization.

The company's board declared a quarterly cash dividend of 30 cents per share, up 20% from the previous payout of 25 cents per share. The dividend is payable July 16 to shareholders of record as of July 2.

Additionally, the board raised the company's repurchase authorization with respect to common stock and outstanding senior notes to $250 million. The company had approximately $136 million remaining under its previous repurchase authorization of $150 million.