Jefferies Financial Group's (JEF) fiscal fourth-quarter results rose year over year driven by gains across its investment banking and asset management divisions.

The financial services company's earnings came in at $0.93 per share for the quarter ended November, up from $0.29 the year before, it said Wednesday. Four analysts surveyed by FactSet expected $0.97. Net revenue jumped 63% year over year to $1.96 billion, topping three analysts' estimate of $1.83 billion.

The company's quarterly results reflect "strong performance" in investment banking while asset management fee and investment return net revenue were substantially higher from last year, "reflecting fee growth and strong overall performance from a number of strategies," Chief Executive Richard Handler and President Brian Friedman said in a statement.

Investment banking net revenue soared to $986.8 million from $571.8 million in the prior-year quarter. Advisory revenue surged 91% to $596.7 million amid market share gains and increased global mergers and acquisitions activity, according to the company.

Total capital markets revenue climbed to $651.7 million from $486.2 million last year due to stronger performance in equities driven by increased volume and more favorable trading opportunities. Asset management net revenue advanced to $314.8 million from $140.6 million the year before.

"More normalized market conditions and the maturation of our platform are beginning to show our earnings potential, as our core businesses have generated meaningfully improved underlying operating margins," according to Handler and Friedman. "We are optimistic about our ability to continue to further expand operating margins as we continue to grow our core businesses."

Jefferies' board of directors increased the company's quarterly dividend by about 14% to $0.40 per share. The dividend is payable Feb. 27 to shareholders of record on Feb. 14.