KBW to Pay Special $2 Dividend Linked to Acquisition by Stifel

KBW Inc. (KBW), the investment bank focusing on financial-services clients, will pay a special dividend of $2 a share linked to its takeover by St. Louis-based brokerage Stifel Financial Corp. (SF)

The dividend is payable Dec. 17 to shareholders of record as of Dec. 10, the company said today in a statement. KBW’s merger agreement with Stifel, announced earlier this month, stipulates that the cash portion of the takeover payment will be reduced to reflect the special dividend.

To contact the reporter on this story: Laura Marcinek in New York at lmarcinek3@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net