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Dividends

Piper declares new annual dividend policy

Piper Jaffray Cos., Minneapolis, said its board of directors approved a new dividend policy that will award an annual special dividend in addition to regular quarterly dividends. The board intends to return 30 to 50 percent of its non-GAAP net income to shareholders in the first quarter each year based on quarterly dividends paid and non-GAAP income from the previous year.

The board also announced plans to increase the quarterly dividend from 31.25 cents per share to 37.5 cents per share beginning the first quarter of 2018.

Tennant declares quarterly dividend

Tennant Co., Golden Valley, has declared a quarterly cash dividend of 21 cents per share, payable Dec. 15 to shareholders of record on Nov. 30.

Personnel

Minneapolis Fed names vice president

Federal Reserve Bank of Minneapolis, has named Amy Phenix as vice president of communications and public affairs. Phenix will start Nov. 27 and report to Senior Vice President Dorothy Bridges.

Phenix most recently served as chief of staff for University of Minnesota President Eric Kaler and before that in positions at Macalester College and Allina Health.

Regis lets go SVP, merchandising officer

Regis Corp., Edina, announced it has terminated the employment of Senior Vice President and chief merchandising officer Annette Miller effective Dec. 31.

Mergers and acquisitions

Hub acquires crop insurance broker

Hub International Ltd., Chicago, announced it has signed a purchase agreement to acquire Wells Fargo’s crop insurance broker business. The Wells Fargo Crop Insurance Agency has offices in North Dakota, South Dakota, Minnesota, Iowa, Nebraska and Indiana.