SALT LAKE CITY, June 28, 2017 /PRNewswire/ -- The Board of
Governors of the Federal Reserve System has notified Zions
Bancorporation (NASDAQ: ZION) that the Federal Reserve does not
object to Zions Bancorporation's board-approved 2017 capital plan,
as submitted to the Federal Reserve on April
5, 2017.
Zions' capital plan for the period spanning July 1, 2017 through June
30, 2018 includes the following capital actions:
- Increasing the common dividend to $0.24 per share by Q2 2018, following the path
of:
-
- $0.12 per share in Q3 2017
- $0.16 per share in Q4 2017
- $0.20 per share in Q1 2018
- $0.24 per share in Q2 2018
- The schedule above is indicative of approximately $140 million in total common dividends over the
four-quarter period.
- Up to $465 million of common
stock redemption.
Capital actions are subject to final approval by Zions
Bancorporation's board of directors, and may be influenced by,
among other things, actual earnings performance and prevailing
economic conditions.
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
www.zionsbancorp.com
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SOURCE Zions Bancorporation