Jefferies hits over 16-year high after Q2 profit beat, dividend hike
** Shares of investment bank Jefferies Financial Group JEF.N jump as much as 8.1%, hitting their highest since May 20, 2008; last up 6.2% at $48.89
** Late Wednesday, JEF posted Q2 net earnings attributable to common shareholders of $145.7 mln, or 64 cents/shr, a near twelve-fold jump compared to last year
** Analysts had expected a profit of 63 cents/shr - LSEG
** Meanwhile, JEF boosts quarterly dividend by 16.7% to 35 cents/shr
** Q2 investment banking revenue surged 59.4% to $803.2 mln, helped by a strong performance in its advisory as well as equity and debt underwriting businesses
** Capital markets revenue jumped 24% to $691.3 mln, thanks to strength in equities
** Increasingly optimistic about H2 2024 and 2025 based on backlog and current trends - CEO Richard Handler and President Brian Friedman
** Including session's moves, stock up 21% YTD
Reporting by Arasu Kannagi Basil in Bengaluru
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