F.N.B. Corporation (NYSE: FNB) announced a quarterly cash dividend increase to $0.13 per share, representing an 8% increase from the previous quarterly dividend of $0.12 per share. The company also authorized a new $250 million share repurchase program.

The Pittsburgh-based financial services company's board of directors unanimously approved both actions. The dividend is payable on June 15, 2026, to shareholders of record as of June 1, 2026.

The new share repurchase program adds to the remaining $50 million from the prior share repurchase program authorized in April 2022. The company stated that repurchases will be made from time to time on the open market at prevailing market prices or in privately negotiated transactions, funded from available working capital.

"Since assuming the role of President of First National Bank of Pennsylvania in 2009, my goal has been to advance the Company's long-term commitment to optimize our capital and shareholder value," said Vincent J. Delie Jr., chairman, president and chief executive officer of F.N.B. Corporation.

According to the company, FNB returned $2.3 billion of capital to shareholders through dividends and share repurchases during Delie's tenure, while growing the balance sheet 477%. The company reported that its dividend payout ratio decreased from nearly 80% to 31%.

F.N.B. Corporation operates in seven states and the District of Columbia, with total assets of more than $50 billion and over 350 banking offices. The company's stock trades on the New York Stock Exchange and is included in the S&P MidCap 400 Index.