NEW
YORK, March 4, 2024 /CNW/ - Oppenheimer Holdings
Inc. (NYSE: OPY) today announced that its Board of Directors
approved a share repurchase program that authorizes the Company to
purchase up to 518,000 shares of the Company's Class A non-voting
common stock, representing approximately 5% of its 10,357,376
currently issued and outstanding shares of Class A non-voting
common stock. This authorization will supplement the 120,155 shares
that remain authorized and available under the Company's previous
share repurchase program covering up to 543,000 shares of the
Company's Class A non-voting common stock, which was announced on
December 14, 2022, for a total of
638,155 shares authorized and available for repurchase. The share
repurchase program is expected to continue indefinitely.
Any such share purchases will be made by the Company from time
to time in the open market at the prevailing open market price
using cash on hand, in compliance with the applicable rules and
regulations of the New York Stock Exchange, state corporate law and
federal and state securities laws and the terms of the Company's
senior secured debt. All shares purchased will be canceled. The
timing and amounts of any purchases under the program will be
determined by management in its discretion based on market and
economic conditions and other factors including price, legal and
regulatory requirements and capital availability. The share
repurchase program does not obligate the Company to repurchase any
dollar amount or number of Class A non-voting common shares.
Depending on market conditions and other factors, these repurchases
may be commenced or suspended from time to time without prior
notice.
Company Information
Oppenheimer Holdings Inc., through its operating subsidiaries,
is a leading middle market investment bank and full service
broker-dealer that provides a wide range of financial services
including retail securities brokerage, institutional sales and
trading, investment banking (both corporate and public finance),
research, market-making, trust, investment management, and
commercial mortgage banking. With roots tracing back to 1881, the
firm is headquartered in New York
and has 90 offices in 25 states and 6 foreign jurisdictions.
Forward-Looking
Statements
This press release includes certain "forward-looking statements"
relating to anticipated future performance. For a discussion of the
factors that could cause future performance to be different than
anticipated, reference is made to Factors Affecting
"Forward-Looking Statements" in Part I, Item 2 of the Company's
Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 and Part 1A - Risk Factors in
the Company's Annual Report on Form 10-K for the year ended
December 31, 2023.
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SOURCE Oppenheimer Holdings Inc.