Fulton Financial Corporation Announces Increased Common Stock Dividend, Preferred Stock Dividend and $125 Million Repurchase Program
19 Dezembro 2023 - 6:30PM
Business Wire
Fulton Financial Corporation (“Fulton”) (Nasdaq: FULT) today
announced that its Board of Directors (the “Board”) declared a
quarterly cash dividend of seventeen cents per share on its common
stock, payable on January 12, 2024, to shareholders of record as of
January 2, 2024. This is a one cent per share increase from the
quarterly cash dividend that the Board declared on September 19,
2023.
In addition, Fulton announced that the Board declared a
quarterly dividend of $12.81 per share (equivalent to $0.32025 per
depositary share) on its Fixed Rate Non-Cumulative Perpetual
Preferred Stock, Series A (the “Preferred Stock”), payable on
January 16, 2024, to shareholders of record as of January 1, 2024,
for the period from and including October 15, 2023, to but
excluding, January 15, 2024.
Fulton also announced that the Board approved the repurchase of
shares of Fulton’s common stock and other securities in an
aggregate principal amount not to exceed $125 million (the “2024
Program”) commencing on January 1, 2024 and expiring on December
31, 2024. Under the 2024 Program, up to $25 million may be used to
repurchase shares of Fulton’s Preferred Stock and outstanding
subordinated notes. Purchases may be made from time to time under
the 2024 Program in open market transactions at prevailing market
prices, in privately negotiated transactions or by other means in
accordance with federal securities laws. The 2024 Program may be
discontinued at any time at the discretion of the Board and does
not commit Fulton to repurchase any of its securities. Purchases,
if any, will be determined by management in its discretion and will
depend upon a number of factors, including Fulton's capital
position, liquidity, financial performance and alternate uses of
capital, the market price of Fulton's securities, general market
and economic conditions, and applicable legal and regulatory
requirements.
Fulton, a $27 billion Lancaster, Pennsylvania-based financial
holding company, has more than 3,300 employees and operates more
than 200 financial centers in Pennsylvania, Maryland, Delaware, New
Jersey and Virginia through Fulton Bank, N.A.
Additional information on Fulton can be found at
investor.fultonbank.com.
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