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Subsequent events
12 Months Ended
Dec. 31, 2012
Subsequent events

18. Subsequent events

On January 24, 2013, the Company announced a cash dividend of $0.11 per share (totaling $1.5 million) payable on February 22, 2013 to Class A and Class B Stockholders of record on February 8, 2013. 

On January 31, 2013, a FINRA arbitration panel rendered a decision in the previously disclosed U.S. Airways case, filed in February 2009, resulting in an award against the Company’s subsidiary, Oppenheimer, in the amount of $30 million including interest and costs on a claim of approximately $140 million (adjusted down from $253 million). This has been reflected in the financial results for the year ended December 31, 2012.

The Company, the ultimate parent of Oppenheimer, has contributed capital into Oppenheimer, the broker-dealer, in an amount equal to the net after tax effect of the award. Accordingly, the regulatory capital of Oppenheimer will not change as a result of the award.