(Corrects to show that Stifel last paid a dividend in 2002)
NEW YORK, Nov 19 (Reuters) - Stifel Financial Corp may revive the common stock dividend it eliminated more than a decade ago because it has enough cash to cover the payments and to continue growing its retail brokerage and investment banking businesses, Chief Executive Ron Kruszewski said Wednesday.
Speaking at a conference sponsored by Keefe, Bruyette & Woods, an investment bank Stifel bought in 2013, Kruszewski said his St. Louis-based company has been cautious about restoring the dividend it stopped paying in 2002 because it does not want to send a message that it has no more growth potential through acquisitions and other business investments.
Stifel, which has acquired more than 10 banking and brokerage businesses since 2005, also plans to be more aggressive with pay packages to recruit retail brokers. “We can be more competitive in recruiting as an organization,” he said. “Our growth in the last two years has been muted.” (Reporting by Jed Horowitz; Editing by James Dalgleish)