Oppenheimer reports Q2 net income $10.3M vs loss last year; dividend raised 20% to $0.18/share

OPPENHEIMER HOLDINGS INC

2024-Q2 EPS reported $3.29 revenue$683,727,000

Net income $10.3M ($0.99 basic EPS) vs net loss of $9.4M (-$0.85) in Q2 2023; revenue up 8% to $330.6M.
Quarterly dividend increased 20% to $0.18/share, payable Aug 23 to holders of record Aug 9.
Assets under management hit record $47.5B, up from $41.2B a year ago; book value per share also record $78.63.
Private Client pre-tax income $55.5M (26.6% margin); Capital Markets pre-tax loss widened to $21.8M.
Compensation ratio rose to 66.8% from 61.1% due to new hires and share-based comp; effective tax rate 35.3%.

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