Fulton Financial Corporation Declares Special Cash Dividend, Extends Timeframe for Stock Repurchase Program
November 19 2021 - 4:30PM
Business Wire
Fulton Financial Corporation (“Fulton”) (Nasdaq:FULT) today
announced that its Board of Directors (the “Board”) has declared a
special cash dividend of eight cents per share on its common stock,
payable on December 15, 2021, to shareholders of record as of
December 1, 2021. Fulton declared quarterly cash dividends on its
common stock of fourteen cents per share in each of the first,
second and third quarters of 2021 and reported record earnings per
share for both the first and third quarters of 2021. The Board is
expected to consider the next quarterly cash dividend at its
December 2021 meeting.
Fulton also announced that the Board has extended the timeframe
for its stock repurchase program, announced in February 2021, from
December 31, 2021 to March 31, 2022.
The stock repurchase program authorizes Fulton to repurchase up
to an aggregate of $75 million of Fulton’s outstanding common
stock. To date, approximately $29.2 million of Fulton’s common
stock has been repurchased under the repurchase program, with a
remaining authorization of up to $45.8 million of common stock that
may be repurchased under the program through March 31, 2022.
As permitted by securities laws and other legal requirements and
subject to market conditions and other factors, purchases may be
made from time to time in open market or privately negotiated
transactions, including without limitation, through accelerated
share repurchase transactions. The repurchase program may be
discontinued at any time.
Fulton Financial Corporation, a $26 billion Lancaster,
Pennsylvania-based financial holding company, has approximately
3,200 employees and operates more than 200 branches in
Pennsylvania, Maryland, Delaware, New Jersey and Virginia through
Fulton Bank, N.A.
Additional information on Fulton Financial Corporation can be
found at www.fult.com.
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