Fifth Third Bancorp Increases Quarterly Cash Dividend on its Common Stock Approximately 9% to $0.24 per Share
June 18 2019 - 2:44PM
Business Wire
Also declares preferred dividends
Board approves share repurchase authorization
of 100 million shares
Fifth Third Bancorp today declared cash dividends on its common
shares, Series H preferred shares, and Series I preferred
shares.
Fifth Third Bancorp (Nasdaq: FITB) today declared a cash
dividend on its common shares of $0.24 for the second quarter of
2019. The dividend is payable on July 15, 2019 to shareholders of
record as of June 28, 2019.
Fifth Third also declared a cash dividend on its 5.10%
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock,
Series H, at the rate of $637.50 per preferred share, which equates
to approximately $25.50 for each depositary share. Each depositary
share represents a 1/25th ownership interest in a share of Series H
Preferred Stock. The Series H dividend is payable on July 1, 2019
to shareholders of record as of June 28, 2019.
Fifth Third also declared a cash dividend on its 6.625%
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock,
Series I (Nasdaq: FITBI), at the rate of $414.06 per preferred
share, which equates to approximately $0.41406 for each depositary
share. Each depositary share represents a 1/1000th ownership
interest in a share of Series I Preferred Stock. The Series I
dividend is payable on July 1, 2019 to shareholders of record as of
June 28, 2019.
Fifth Third also announced that its Board of Directors approved
a new share repurchase authorization of up to 100 million shares,
which replaces the previous authorization from 2018 under which
approximately 22 million shares remain. The new repurchase
authorization does not have an expiration date, does not include
specific price targets, may be executed through open market
purchases or one or more private negotiated transactions, including
Rule 10b5-1 programs, and may be suspended at any time.
All future capital distributions are subject to evaluation of
Fifth Third’s performance, the state of the economic environment,
market conditions, regulatory factors, and other risks and
uncertainties and approval by the Board of Directors at any given
time.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio, and the parent company of Fifth
Third Bank, an Ohio-chartered bank. As of March 31, 2019, Fifth
Third had $168 billion in assets and operated 1,207 full-service
banking centers and 2,559 ATMs with Fifth Third branding in Ohio,
Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West
Virginia, Georgia and North Carolina. In total, Fifth Third
provides its customers with access to approximately 52,000 fee-free
ATMs across the United States. Fifth Third operates four main
businesses: Commercial Banking, Branch Banking, Consumer Lending
and Wealth & Asset Management. Fifth Third is among the largest
money managers in the Midwest and, as of March 31, 2019, had $394
billion in assets under care, of which it managed $44 billion for
individuals, corporations and not-for-profit organizations through
its Trust and Registered Investment Advisory businesses. Investor
information and press releases can be viewed at www.53.com. Fifth
Third’s common stock is traded on the Nasdaq® Global Select Market
under the symbol “FITB.” Fifth Third Bank was established in 1858.
Deposit and Credit products are offered by Fifth Third Bank. Member
FDIC.
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version on businesswire.com: https://www.businesswire.com/news/home/20190618005958/en/
Chris Doll (Investor Relations)Christopher.Doll@53.com |
513-534-2345
Gary Rhodes (Media Relations)Gary.Rhodes@53.com |
513-534-4225
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