Piper Jaffray Cos.'s board has increased its quarterly cash dividend by 20% to 37.5 cents from 31.25 cents per share.
The board has also declared a special cash dividend of $1.62 per share. The dividends are payable March 15 to shareholders of record as of the close of business as of Feb. 26.
Additionally, the company reported a fourth-quarter 2017 net loss of $46.1 million, or a loss of $3.63 per common share, compared with a loss of $37.0 million, or a loss of $3.00 per common share, in the prior-year period.
Adjusted net income was $27.6 million, or $1.80 per share, for the quarter, compared with $27.1 million, or $1.75 per share, in the year-ago quarter.
For full year 2017, the company had a net loss of $61.9 million, or a loss of $5.07 per common share, compared with $22.0 million, or a loss of $1.73 per common share, a year ago.
Adjusted net income for 2017 was $108.9 million, or $7.12 per share, compared with $72.6 million, or $4.69 per share, in 2016.
