Northern Trust Announces Increased Quarterly Dividend and Stock Repurchase Authorization
July 17 2018 - 4:30PM
Business Wire
Northern Trust Corporation (Nasdaq: NTRS), holding company of
The Northern Trust Company, has declared a quarterly cash dividend
of $0.55 per share on its common stock ($1.66-2/3 par value),
payable on October 1, 2018, to holders of record at 5:00 p.m.,
Chicago time, on September 14, 2018. The dividend represents a more
than 30 percent increase from the prior quarterly rate of $0.42 per
share, and results in an annualized dividend rate of $2.20,
compared with the prior annualized rate of $1.68. Northern Trust
Corporation also declared cash dividends of $365.625 per share of
its Series C non-cumulative perpetual preferred stock (resulting in
a distribution of $0.365625 per depositary share), and $2,300.00
per share of its Series D cumulative perpetual preferred stock
(resulting in a distribution of $23.00 per depositary share), each
payable on October 1, 2018, to holders of record at 5:00 p.m.
Chicago time on September 15, 2018.
Northern Trust announced that its Board of Directors has
approved a new common stock repurchase authorization of up to 25
million shares. The new repurchase authorization replaces the
authorization approved in July 2017. The timing and amount of
shares repurchased under the new repurchase authorization will
depend on various factors, including, but not limited to, Northern
Trust’s business plans, financial performance, other investment
opportunities and general market conditions, including share
price.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has offices in the
United States in 19 states and Washington, D.C., and 23
international locations in Canada, Europe, the Middle East and the
Asia-Pacific region. As of March 31, 2018, Northern Trust had
assets under custody/administration of US$10.8 trillion, and assets
under management of US$1.2 trillion. For more than 125 years,
Northern Trust has earned distinction as an industry leader for
exceptional service, financial expertise, integrity and innovation.
Visit northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/disclosures.
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version on businesswire.com: https://www.businesswire.com/news/home/20180717005976/en/
Northern Trust CorporationInvestor Relations:Mark
Bette312-444-2301Mark.Bette@ntrs.comorMedia Contact:Doug
Holt312-557-1571Doug.Holt@ntrs.comhttp://www.northerntrust.com
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