Zions Bancorporation’s Board Approves Various Capital Actions Including Dividends, Common Share Repurchases, & Redemption o...
April 30 2021 - 12:25PM
Business Wire
Zions Bancorporation, N.A. (NASDAQ: ZION) announced today that
its board of directors (“board”) authorized a common share
repurchase for the second quarter of 2021 of up to $100
million.
The board also declared a regular quarterly dividend of $0.34
per common share, payable May 20, 2021 to shareholders of record on
May 13, 2021.
Additionally, the board authorized the redemption at par value
of Zions’ Series H (NASDAQ: ZIONN; CUSIP: 989701834) perpetual
preferred shares, which have been eligible to be redeemed since
June 15, 2019, subject to the completion of notification
requirements. Zions currently expects to redeem the Series H shares
during the second quarter of 2021. At March 31, 2021, the total
amount of the Series H shares outstanding was $126 million, and had
an annual dividend of $7 million.
Finally, the board declared regular quarterly cash dividends on
the company's various perpetual preferred shares, as detailed
below.
The cash dividend on the following series are payable June 15,
2021 to shareholders of record on June 1, 2021:
- Series A (NASDAQ: ZIONP; CUSIP: 98973A104);
- Series G (NASDAQ: ZIONO; CUSIP: 989701859);
- Series H (NASDAQ: ZIONN; CUSIP: 989701834); and
- Series I (CUSIP: 989701BD8)
The cash dividend on the Series J (CUSIP: 989701BF3) shares is
payable on September 15, 2021 to shareholders of record on
September 1, 2021.
Zions has obtained the requisite regulatory approval to allow
Zions to timely execute on this authorization.
Zions Bancorporation, N.A. is one of the nation's premier
financial services companies with annual net revenue of $2.8
billion in 2020 and more than $85 billion of total assets. Zions
operates under local management teams and distinct brands in 11
western states: Arizona, California, Colorado, Idaho, Nevada, New
Mexico, Oregon, Texas, Utah, Washington and Wyoming. Zions is a
national leader in small business lending, including Small Business
Administration lending, ranking as the nation’s 10th largest
provider of the SBA’s Paycheck Protection Program loans
(2020-2021). The Bank is a consistent recipient of national and
state-wide customer survey awards in small and middle-market
banking as well as a leader in public finance advisory services. In
addition, Zions is included in the S&P 500 and NASDAQ Financial
100 indices. Investor information and links to local banking brands
can be accessed at zionsbancorporation.com.
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James Abbott Director of Investor Relations Tel: (801)
844‐7637
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