COLUMBUS, Ohio, June 27, 2019 /PRNewswire/ -- Huntington
Bancshares Incorporated (Nasdaq: HBAN; www.huntington.com)
announces proposed capital actions included in Huntington's 2019
capital plan. These planned actions include:
- A 7% increase in the quarterly dividend per common share to
$0.15, starting in the third quarter
of 2019, subject to approval by the Board of Directors;
- The repurchase of up to $513
million of common stock over the next four quarters
(July 1, 2019 through June 30, 2020), subject to authorization by the
Board of Directors; and
- Maintaining dividends on the outstanding classes of preferred
stock and trust preferred securities.
"We are a high-performing regional bank, seeking to deliver top
quartile, through-the-cycle shareholder returns," said Stephen D. Steinour, chairman, president, and
CEO. "Disciplined capital management is a key component in
that equation. The 2019 capital plan aligns with our
well-articulated capital priorities: to fund organic growth first,
to increase our quarterly dividend for the seventh consecutive
year, and then other uses, including returning capital to our
shareholders through share repurchases."
"The plan is supported by our continued strong financial
performance, robust capital generation, and disciplined risk
management, including adherence to our aggregate moderate-to-low
risk appetite. We also were cognizant of the significant
macroeconomic and market volatility over the past several months,
as well as other global economic uncertainty. As we manage
through this environment, the plan is consistent with our stated
goal of managing our CET1 capital ratio to the high-end of our
targeted operating range of 9% to 10%."
About Huntington
Huntington Bancshares Incorporated is a regional bank holding
company headquartered in Columbus,
Ohio, with $108 billion of
assets and a network of 868 full-service branches, including 12
Private Client Group offices, and 1,687 ATMs across seven
Midwestern states. Founded in 1866, The Huntington National
Bank and its affiliates provide consumer, small business,
commercial, treasury management, wealth management, brokerage,
trust, and insurance services. Huntington also provides auto
dealer, equipment finance, national settlement, and capital market
services that extend beyond its core states. Visit
huntington.com for more information.
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SOURCE Huntington Bancshares Incorporated