RAYMOND JAMES FINANCIAL INC 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Our common stock is traded on the NYSE under the symbol “RJF.” As of November 19, 2020, we had 323 holders of record of our common stock. Shares of our common stock are held by a substantially greater number of beneficial owners, whose shares are held of record by banks, brokers, and other financial institutions. See Note 22 of the Notes to Consolidated Financial Statements of this Form 10-K for information regarding our intentions for paying cash dividends and the related capital restrictions. Information related to our compensation plans under which equity securities are authorized for issuance is presented in Note 21 of the Notes to Consolidated Financial Statements and Part III, Item 12 of this Form 10-K. We did not have any sales of unregistered securities for the fiscal years ended September 30, 2020, 2019 or 2018. We purchase our own stock from time to time in conjunction with a number of activities, each of which is described in the following paragraphs. The following table presents information on our purchases of our own stock, on a monthly basis, for the twelve months ended September 30, 2020. Total number of shares purchased Average price per share Number of shares purchased as part of publicly announced plans or programs Approximate dollar value (in millions) at each month-end, of securities that may yet be purchased under the plans or programs October 1, 2019 – October 31, 2019 5,582 $ 84.80 — $750 November 1, 2019 – November 30, 2019 86,720 $ 89.35 — $750 December 1, 2019 – December 31, 2019 132,723 $ 89.33 125,567 $739 First quarter 225,025 $ 89.23 125,567 January 1, 2020 – January 31, 2020 40,106 $ 89.74 32,988 $736 February 1, 2020 – February 29, 2020 721,432 $ 89.47 719,250 $672 March 1, 2020 – March 31, 2020 1,800,682 $ 74.94 1,795,764 $537 Second quarter 2,562,220 $ 79.26 2,548,002 April 1, 2020 – April 30, 2020 — $ — — $537 May 1, 2020 – May 31, 2020 — $ — — $537 June 1, 2020 – June 30, 2020 — $ — — $537 Third quarter — $ — — July 1, 2020 – July 31, 2020 — $ — — $537 August 1, 2020 – August 31, 2020 115,594 $ 71.16 113,002 $529 September 1, 2020 – September 30, 2020 565,719 $ 74.27 565,085 $487 Fourth quarter 681,313 $ 73.74 678,087 Fiscal year total 3,468,558 $ 78.82 3,351,656 34 RAYMOND JAMES FINANCIAL, INC. AND SUBSIDIARIES In the preceding table, the total number of shares purchased includes shares purchased pursuant to the Restricted Stock Trust Fund, which was established to acquire our common stock in the open market and used to settle restricted stock units (“RSUs”) granted as a retention vehicle for certain employees of our wholly-owned Canadian subsidiaries. For more information on this trust fund, see Note 2 and Note 8 of the Notes to Consolidated Financial Statements of this Form 10-K. These activities do not utilize the repurchase authorization presented in the preceding table. The total number of shares purchased also includes shares repurchased as a result of employees surrendering shares as payment for option exercises or withholding taxes. These activities do not utilize the repurchase authorization presented in the preceding table. ITEM 6. SELECTED FINANCIAL DATA Year ended September 30, in millions, except per share amounts 2020 2019 2018 2017 2016 Operating results: Net revenues $ 7,990 $ 7,740 $ 7,274 $ 6,371 $ 5,405 Net income $ 818 $ 1,034 $ 857 $ 636 $ 529 Earnings per common share - basic $ 5.94 $ 7.32 $ 5.89 $ 4.43 $ 3.72 Earnings per common share - diluted $ 5.83 $ 7.17 $ 5.75 $ 4.33 $ 3.65 Weighted-average common shares outstanding - basic 137.6 141.0 145.3 143.3 141.8 Weighted-average common and common equivalent shares outstanding - diluted 140.2 144.0 148.8 146.6 144.5 Dividends per common share - declared $ 1.48 $ 1.36 $ 1.10 $ 0.88 $ 0.80 Financial condition: Total assets $ 47,482 $ 38,830 $ 37,413 $ 34,883 $ 31,487 Long-term borrowings: Non-current portion of other borrowings $ 858 $ 889 $ 894 $ 899 $ 604 Non-current portion of senior notes payable $ 2,050 $ 1,550 $ 1,550 $ 1,550 $ 1,700 Total long-term borrowings $ 2,908 $ 2,439 $ 2,444 $ 2,449 $ 2,304 Total equity attributable to Raymond James Financial, Inc. $ 7,114 $ 6,581 $ 6,368 $ 5,582 $ 4,917 Shares outstanding 136.6 137.8 145.6 144.1 141.5 Book value per share $ 52.08 $ 47.76 $ 43.73 $ 38.74 $ 34.73 Amounts related to senior notes payable exclude the impact of debt issuance costs and unaccreted discounts or premiums. 35 RAYMOND JAMES FINANCIAL, INC. AND SUBSIDIARIES