Regions Financial Corporation Declares Quarterly Common and Preferred Stock Dividends and Announces Common Stock Repurchase Program
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Dividends on common stock to be payable July 1; dividends on preferred stock to be payable in May and June.
BIRMINGHAM, Ala.--(BUSINESS WIRE)-- The Regions Financial Corporation (NYSE: RF) Board of Directors today declared the following cash dividends on its common shares, Series A preferred shares, Series B preferred shares, Series C preferred shares and Series D preferred shares:
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Regions corporate headquarters in Birmingham, Ala. (Photo: Business Wire)
- A cash dividend of $0.155 on each share of outstanding common stock of the Company, payable on July 1, 2021, to stockholders of record at the close of business on June 4, 2021.
- A cash dividend of $15.9375 per share of Series A Preferred Stock (equivalent to approximately $0.398438 per depositary share), payable on June 15, 2021, to stockholders of record at the close of business on June 1, 2021.
- A cash dividend of $15.9375 per share of Series B Preferred Stock (equivalent to approximately $0.398438 per depositary share), payable on June 15, 2021, to stockholders of record at the close of business on June 1, 2021.
- A cash dividend of $14.25 per share of Series C Preferred Stock (equivalent to approximately $0.35625 per depositary share), payable on May 17, 2021, to stockholders of record at the close of business on May 3, 2021.
- A cash dividend of $1,437.50 per share of Series D Preferred Stock (equivalent to approximately $14.375 per depositary share), payable on June 15, 2021, to stockholders of record at the close of business on June 1, 2021.
The Regions Financial Corporation Board of Directors also authorized the repurchase of up to $2.5 billion of the company’s common stock for the period including the second quarter of 2021 through the first quarter of 2022. The timing and exact amount of common stock repurchased will depend on various factors, including market conditions, internal capital generation and capital consumption through loan growth or other uses. The repurchase program does not include specific price targets; the repurchase program may be executed through open market purchases, accelerated share repurchase transactions or privately negotiated transactions, including utilizing Rule 10b5-1 programs, and the repurchase program may be suspended at any time.
About Regions Financial Corporation
Regions Financial Corporation (NYSE: RF), with $147 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.
Jeremy D. King
Investor Relations Contact:
Source: Regions Financial Corporation
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