RALEIGH,
N.C., Oct. 26, 2023 /PRNewswire/ -- The Board of
Directors of First Citizens BancShares, Inc. ("BancShares")
(NASDAQ: FCNCA) declared on Oct. 24,
2023, dividends on the company's Class A and Class B common
stock, as well as Series A, B and C preferred stock, each for the
period commencing on and including the last respective payment
date.
- As noted above, the Board declared a quarterly dividend of
$1.64 per share on the company's
Class A and Class B common stock. The dividend is payable
Dec. 15, 2023, to shareholders of
record Nov. 30, 2023.
- "Due to the overall financial strength of our company and
ongoing solid results, the Board has decided to increase the common
stock dividend from 75 cents per
share to $1.64 per share," said
Chairman and CEO Frank B. Holding
Jr.
- The Board declared a regular quarterly dividend on the
company's 5.375% non-cumulative perpetual preferred stock, Series
A, to be paid on Dec. 15, 2023, to
holders of record as of Nov. 30,
2023.
There are currently 345,000 outstanding shares of the Series A
preferred stock which are held pursuant to a Deposit Agreement
dated March 12, 2020. Under that
agreement, an aggregate of 13,800,000 depositary shares were
issued, each representing a 1/40th interest in a share of the
Series A preferred stock.
- The Board declared a dividend on the company's
fixed-to-floating rate, non-cumulative perpetual Series B preferred
stock to be paid on Dec. 15, 2023, to
holders of record as of Nov. 30,
2023. BancShares will pay a non-cumulative quarterly cash
dividend at a rate of 9.64304%, which is equal to the three-month
CME Term SOFR on the dividend determination date plus the
applicable SOFR tenor spread adjustment and a spread of 3.972%.
- Also, the Board declared a regular quarterly dividend on the
company's 5.625% non-cumulative perpetual preferred stock, Series
C, to be paid on Dec. 15, 2023, to
holders of record as of Nov. 30,
2023.
ABOUT FIRST CITIZENS BANCSHARES
First Citizens BancShares, Inc. (NASDAQ: FCNCA), a top 20 U.S.
financial institution with more than $200
billion in assets, is the financial holding company for
First-Citizens Bank & Trust Company ("First Citizens Bank").
Headquartered in Raleigh, N.C.,
and now celebrating the 125th anniversary of its founding, First
Citizens Bank has built a unique legacy of strength, stability and
long-term thinking that has spanned generations. First Citizens
offers an array of general banking services including a network of
more than 500 branches and offices in 30 states; commercial banking
expertise delivering best-in-class lending, leasing and other
financial services coast to coast; innovation banking serving
businesses at every stage; and a nationwide direct bank. Discover
more at firstcitizens.com.
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Contact:
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Deanna Hart
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Barbara
Thompson
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Investor
Relations
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Corporate
Communications
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919-716-2137
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919-716-2716
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SOURCE First Citizens BancShares, Inc.