Northern Trust Announces Proposed Capital Actions

CHICAGO--(BUSINESS WIRE)-- Northern Trust Corporation (Nasdaq: NTRS) today announced that the Federal Reserve did not object to the company’s 2016 Capital Plan, reviewed by the Federal Reserve as part of its Comprehensive Capital Analysis and Review.

Northern Trust’s 2016 Capital Plan, which was approved by its Board of Directors prior to submission to the Federal Reserve, requested authority to increase its quarterly common stock dividend to $0.38 per share from $0.36 per share, effective in the third quarter of 2016. At its July 19, 2016, meeting, Northern Trust’s Board of Directors will consider formal approval of the planned dividend increase, which is expected to be payable October 1, 2016.

In addition, Northern Trust’s 2016 Capital Plan provides for the repurchase of up to $275 million of its common stock through the open market or in privately negotiated transactions between July 2016 and June 2017. The timing of the common stock repurchases and the exact number of shares repurchased will depend on various factors, including Northern Trust’s capital position, internal capital generation, share price, other investment opportunities, and market conditions.

“We are pleased to continue delivering positive returns to shareholders while maintaining Northern Trust’s strong capital position and conservative risk profile,” Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. “We believe our 2016 Capital Plan and proposed capital distributions demonstrate the strength of Northern Trust’s focused business model, financial position and commitment to shareholders.”

Forward-Looking Statements

This release may include statements which constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified typically by words or phrases such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “likely,” “plan,” “goal,” “target,” “strategy,” and similar expressions or future or conditional verbs such as “may,” “will,” “should,” “would,” and “could”. Forward-looking statements include statements, other than those related to historical facts, that relate to Northern Trust’s Capital Plan; financial results and outlook; capital adequacy; expected capital actions, including dividends and common stock repurchases; and risk management policies. These statements are based on Northern Trust’s current beliefs and expectations of future events or future results, and involve risks and uncertainties that are difficult to predict and subject to change. These statements are also based on assumptions about many important factors, including the factors discussed in Northern Trust’s most recent annual report on Form 10-K and other filings with the U.S. Securities and Exchange Commission, all of which are available on Northern Trust’s website. We caution you not to place undue reliance on any forward-looking statement as actual results may differ materially from those expressed or implied by forward-looking statements. Northern Trust assumes no obligation to update its forward-looking statements.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2016, Northern Trust had assets under custody of US$6.2 trillion, and assets under management of US$900 billion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures.

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Northern Trust Corporation
Media Contact:
Doug Holt
312-557-1571
[email protected]
or
Investor Relations:
Mark Bette
312-444-2301
[email protected]
http://www.northerntrust.com

Source: Northern Trust Corporation

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