Fulton Financial (FULT) Raises Quarterly Dividend 8.3% to $0.13, 3.2% Yield; Authorizes Up to $100M Share Buyback

Fulton Financial (NASDAQ: FULT) declared a quarterly dividend of $0.13 per share, or $0.52 annualized. This is an 8.3% increase from the prior dividend of $0.12.

The dividend will be payable on April 15, 2019, to stockholders of record on April 1, 2019, with an ex-dividend date of March 29, 2019.

The annual yield on the dividend is 3.2 percent.

New Share Buyback

The Board also approved a new share repurchase program which authorizes the Corporation to repurchase up to $100 million of Fulton’s common stock, or approximately 3.5 percent of Fulton’s outstanding shares, based on the closing price of Fulton’s common stock and the number of shares outstanding on February 15, 2019. This approval expires on December 31, 2019.

This new authorization is in addition to $75 million share repurchase program that the Fulton Financial Corporation Board approved on November 20, 2018. As of March 15, 2019, the Corporation had repurchased $69.5 million of the $75 million, leaving approximately $5.5 million approved for repurchase under that program.

For a dividend history and other dividend-related data on Fulton Financial (FULT) click here.

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