Raymond James Financial Inc. (RJF, Financial) filed Amended Annual Report for the period ended 2009-09-30.
Raymond James Financial Inc. has a market cap of $3.69 billion; its shares were traded at around $29.66 with a P/E ratio of 16.21 and P/S ratio of 1.24. The dividend yield of Raymond James Financial Inc. stocks is 1.48%. Raymond James Financial Inc. had an annual average earning growth of 7.9% over the past 10 years.RJF is in the portfolios of Private Capital of Private Capital Management, David Dreman of Dreman Value Management, Chuck Royce of Royce& Associates, Kenneth Fisher of Fisher Asset Management, LLC, John Buckingham of Al Frank Asset Management, Inc., Jim Simons of Renaissance Technologies LLC, Bruce Kovner of Caxton Associates, Steven Cohen of SAC Capital Advisors, Jeremy Grantham of GMO LLC.
In determining the bonus paid to Mr. James for fiscal 2009, the CGN&C Committee began with the recognition that it had approved bonuses for other Named Executive Officers that ranged from 89% to 98% of the amounts generated by their bonus formulas. The CGN&C Committee considered that we remained profitable, albeit at a lower level, in a year which continued to be difficult for financial firms in the aftermath of the demise of Bear Stearns and Lehman Brothers. It was also cognizant of the bonuses received by chief executive officers of other financial services firms. The CGN&C Committee also reviewed Mr. James accomplishments against his personal objectives, which included identifying a successor as chief executive officer, commencing the process of succession, reducing expenses and capital expenditures and raising $300 million of fixed rate debt capital. Considering all those factors, the CGN&C proposed a bonus of $2,250,000, 90% of the amount generated by his bonus formula. However, the CGN&C Committee followed Mr. James request to be at the forefront in sharing the financial pain experienced by both shareholders and many employees as a result of the diminished results of fiscal 2009. As a consequence, Mr. James was awarded a bonus of $1,925,000, 77% of the amount generated by his bonus formula.
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Raymond James Financial Inc. has a market cap of $3.69 billion; its shares were traded at around $29.66 with a P/E ratio of 16.21 and P/S ratio of 1.24. The dividend yield of Raymond James Financial Inc. stocks is 1.48%. Raymond James Financial Inc. had an annual average earning growth of 7.9% over the past 10 years.RJF is in the portfolios of Private Capital of Private Capital Management, David Dreman of Dreman Value Management, Chuck Royce of Royce& Associates, Kenneth Fisher of Fisher Asset Management, LLC, John Buckingham of Al Frank Asset Management, Inc., Jim Simons of Renaissance Technologies LLC, Bruce Kovner of Caxton Associates, Steven Cohen of SAC Capital Advisors, Jeremy Grantham of GMO LLC.
Highlight of Business Operations:
The fourth component of the compensation package is our contributions to various retirement plans, which are based on compensation levels and years of service. We maintain three qualified retirement plans: a profit sharing plan, an employee stock ownership plan and a 401(k) plan. Contributions to the profit sharing and employee stock ownership plans, if any, are dependent upon our overall profits. Since inception of the 401(k) plan in 1987, we have matched a portion of the first $1,000 contributed annually by employees to their 401(k) accounts. The plan currently provides for us to match 100% of the first $500 and 50% of the next $500 of compensation deferred by each participant annually. These three plans are offered to employees who meet the length of service and minimum hours worked requirements specified in the plans. We also maintain a non-qualified long term incentive plan for highly compensated employees, including executive officers. Eligibility is restricted to those who meet certain compensation levels set by the CGN&C Committee. The vesting schedule of this plan is designed to encourage long-term employment with the firm. Contributions to this plan are also dependent upon our earnings.In determining the bonus paid to Mr. James for fiscal 2009, the CGN&C Committee began with the recognition that it had approved bonuses for other Named Executive Officers that ranged from 89% to 98% of the amounts generated by their bonus formulas. The CGN&C Committee considered that we remained profitable, albeit at a lower level, in a year which continued to be difficult for financial firms in the aftermath of the demise of Bear Stearns and Lehman Brothers. It was also cognizant of the bonuses received by chief executive officers of other financial services firms. The CGN&C Committee also reviewed Mr. James accomplishments against his personal objectives, which included identifying a successor as chief executive officer, commencing the process of succession, reducing expenses and capital expenditures and raising $300 million of fixed rate debt capital. Considering all those factors, the CGN&C proposed a bonus of $2,250,000, 90% of the amount generated by his bonus formula. However, the CGN&C Committee followed Mr. James request to be at the forefront in sharing the financial pain experienced by both shareholders and many employees as a result of the diminished results of fiscal 2009. As a consequence, Mr. James was awarded a bonus of $1,925,000, 77% of the amount generated by his bonus formula.
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