SALT LAKE CITY, April 27, 2017 /PRNewswire/ -- Zions
Bancorporation (NASDAQ: ZION) announced today that its board of
directors declared a regular quarterly dividend of $0.08 per common share. The dividend is payable
May 25, 2017 to shareholders of
record on May 18, 2017. The
board of directors also declared regular quarterly cash dividends
on the company's various perpetual preferred shares. The cash
dividend on the Series A, F, G, H and I shares are payable
June 15, 2017 to shareholders of
record on June 1, 2017, while the
cash dividend on the Series J is payable on September 15, 2017 to shareholders of record on
September 1, 2017.
Additionally, Zions announced today that it will redeem all
outstanding shares of its 7.90% Series F Non-Cumulative Perpetual
Preferred Stock (NYSE: ZB Pr F; CUSIP 989701867), and the related
depositary shares (the "Depositary Shares"), each representing a
1/40th interest in a share of Series F Preferred, on June 15, 2017 (the "redemption date") at the
price per Depositary Share of $25.00
(the "redemption amount"), plus accrued and unpaid dividends
through the redemption date.
At the redemption amount, the redemption represents 143,750.00
Series F Preferred shares and the related 5,750,000 Depositary
Shares. After the redemption date, the Series F Preferred shares
and related Depositary Shares will cease to be entitled to
dividends and the holders of such shares will not be entitled to
exercise any right with regard to such shares except that of
receiving the redemption amount. The amount of dividends payable
with respect to the June 15, 2017
dividend payment date has been declared and approved, and will
amount to $0.49375 per Depositary
Share.
Shareholders will receive official notice of the redemption in
accordance with the provisions of Zions' Amended and Restated
Articles of Incorporation and the deposit agreement relating to the
Depositary Shares.
About Zions Bancorporation Zions Bancorporation is one of the
nation's premier financial services companies with total assets
exceeding $65 billion. Zions operates
under local management teams and distinct brands in 11 western
states: Arizona, California, Colorado, Idaho, Nevada, New
Mexico, Oregon,
Texas, Utah, Washington and Wyoming. The company is a national leader in
Small Business Administration lending and public finance advisory
services, and is a consistent top recipient of Greenwich Excellence
awards in banking. In addition, Zions is included in the S&P
500 and NASDAQ Financial 100 indices. Investor information and
links to local banking brands can be accessed at
zionsbancorp.com.
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SOURCE Zions Bancorporation