Item 8.01 Other Events

On December 4, 2012, Paulson Capital Corp. issued a press release announcing the Board of Director's approval of a cash dividend in the amount of $0.15 per share payable December 28, 2012 to shareholders of record December 14, 2012. The ex-dividend date will be December 12, 2012.

A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

The following exhibit is attached hereto and this list is intended to constitute the exhibit index:

99.1 Press Release

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