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JMP Group authorizes repurchase of up to 500,000 additional shares

JMP Group's board of directors has authorized the repurchase of up to 500,000 additional shares of the company's outstanding common stock through December 31, 2013. The company had repurchased approximately 850,000 shares of stock since the time of the board's prior authorization in November 2011 leaving approximately 350,000 shares still to be repurchased. JMP Group's board of directors has extended the timeline for the repurchase of the remaining amount; and, as a result, the company is now authorized to repurchase a total of approximately 850,000 common shares through December 31, 2013.