BAIRD
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Financials

Baird Financial Group is the ultimate parent company of all of Baird's global operations. Our primary businesses are wealth management, capital markets, asset management and private equity. We are privately held and employee-owned.

NET REVENUES
(millions)

OPERATING INCOME
(millions)

ASSOCIATES

BOOK VALUE*
(per share / including cumulative dividends)

RETURN ON BOOK VALUE**
(per share)

STOCKHOLDERS' EQUITY***
(millions / including cumulative dividends)

*Represents the book value per share of Baird stock at December 31, 2019, of $53.21 plus cumulative cash dividends per share from 2011 through 2019 of $26.70 per share, representing annual dividends of $2.50, $2.10, $7.50, $2.00, $1.85, $1.65, $1.60 and $7.50 per share in 2019, 2017, 2016, 2015, 2014, 2013, 2012 and 2011, respectively.

**For comparative purposes, book value appreciation includes an adjustment for the value of the dividends paid in December of each year.

***Represents stockholders' equity at December 31, 2019, of $1,176 million plus cumulative cash dividends from 2011 through 2019 of $469 million, representing annual dividends of $55 million,$39 million, $136 million, $35 million, $32 million, $27 million, $25 million and $120 million in 2019, 2017, 2016, 2015, 2014, 2013, 2012 and 2011, respectively.

Baird Financial Group: Financial Highlights

  Operating
Results
Per-Share
Data
Financial
Position
Other
Data
  Net Revenues
(millions)
Operating
Income
(millions)
Book Value
(fully diluted)
Cash
Dividend
Total Assets
(millions)
Associates Financial
Advisors
2019 $ 2,060 $ 262 $ 53.21 $ 2.50 $ 3,343 4,641 1,298
2018 $ 1,784 $ 244 $ 48.77 $ 0.00 $ 3,235 3,642 937
2017 $ 1,533 $ 199 $ 39.77 $ 2.10 $ 3,114 3,410 858
2016 $ 1,390 $ 155 $ 34.67 $ 7.50 $ 2,613 3,410 877
2015 $ 1,286 $ 154 $ 37.48 $ 2.00 $ 2,793 3,312 872
2014 $ 1,202 $ 135 $ 34.87 $ 1.85 $ 2,635 3,172 816
2013 $ 1,069 $ 117 $ 31.78 $ 1.65 $ 2,259 2,935 727
2012 $ 961 $ 100 $ 28.98 $ 1.60 $ 2,340 2,787 698
2011 $ 925 $ 86 $ 27.19 $ 7.50 $ 2,264 2,752 694
2010 $ 847 $ 84 $ 31.51   $ 2,414 2,629 680

Financial information does not reflect the consolidation of certain private equity partnerships.

Book Value: Baird paid cash dividends per share of $2.50, $2.10, $7.50, $2.00, $1.85, $1.65, $1.60 and $7.50 in December of 2019, 2017, 2016, 2015, 2014, 2013, 2012 and 2011, respectively, which resulted in corresponding decreases in book value. In addition, pershare amounts have been restated to give effect for a three-for-one stock split, effective November 30, 1999, and a two-for-one stock split, effective February 19, 2008.