Associated Announces Annual Meeting Results and Dividends

Rhea-AI Summary

On April 25, 2023, Associated Banc-Corp (NYSE: ASB) held its Annual Meeting of Shareholders, where several key outcomes were announced. The company reported the re-election of directors, including John (Jay) B. Williams and Andrew J. Harmening. Shareholders also approved the compensation for named executives and ratified KPMG LLP as the independent accounting firm for 2023.

Additionally, the Board declared a quarterly cash dividend of $0.21 per common share, payable on June 15, 2023, and dividends for preferred stocks: $0.3671875 for Series E and $0.3515625 for Series F, both also payable on June 15, 2023.

Associated Banc-Corp manages total assets of approximately $41 billion, serving multiple states in the Midwest.

Positive

• Re-election of key directors enhances stability.
• Quarterly cash dividend of $0.21 per common share indicates strong shareholder returns.
• Approval of executive compensation suggests confidence in leadership.

Negative

• None.

GREEN BAY, Wis., April 25, 2023 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated") today announced the results of the actions taken at its 2023 Annual Meeting of Shareholders.

The following directors were re-elected:

-  John (Jay) B. Williams, chairman, Associated Banc-Corp, and chairman, Church Mutual Insurance Company
-  Andrew J. Harmening, president and chief executive officer, Associated Banc-Corp
-  R. Jay Gerken, director of 17 mutual funds associated with Sanford C. Bernstein Fund, Inc.
-  Judith P. Greffin, former chief investment officer, Allstate Corporation
-  Michael J. Haddad, chair of the board of directors, Schreiber Foods, Inc.
-  Robert A. Jeffe, senior operating partner, BlackWatch
-  Eileen A. Kamerick, adjunct professor of law and consultant
-  Gale E. Klappa, executive chairman, WEC Energy Group
-  Cory L. Nettles, founder and managing director, Generation Growth Capital, Inc.
-  Karen T. van Lith, founder and CEO of APEL Worldwide, LLC

Shareholders also (1) gave advisory approval to named executive officer compensation, and (2) ratified the selection of KPMG LLP as Associated's independent accounting firm for 2023.

The Associated Board of Directors declared a regular quarterly cash dividend of $0.21 per common share, payable on June 15, 2023, to shareholders of record at the close of business on June 1, 2023.

The Board of Directors also declared a regular quarterly cash dividend of $0.3671875 per depositary share on Associated's 5.875% Series E Perpetual Preferred Stock, payable on June 15, 2023, to shareholders of record at the close of business on June 1, 2023.

The Board of Directors also declared a regular quarterly cash dividend of $0.3515625 per depositary share on Associated's 5.625% Series F Perpetual Preferred Stock, payable on June 15, 2023, to shareholders of record at the close of business on June 1, 2023.

ABOUT ASSOCIATED BANC-CORP

Associated Banc-Corp (NYSE: ASB) has total assets of $41 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from more than 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota. The Company also operates loan production offices in Indiana, Michigan, Missouri, New York, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.

FORWARD-LOOKING STATEMENTS

Statements made in this document which are not purely historical are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. This includes any statements regarding management's plans, objectives, or goals for future operations, products or services, and forecasts of its revenues, earnings, or other measures of performance.  Such forward-looking statements may be identified by the use of words such as "believe," "expect," "anticipate," "plan," "estimate," "should," "will," "intend," "target," "outlook," "project," "guidance," or similar expressions.  Forward-looking statements are based on current management expectations and, by their nature, are subject to risks and uncertainties. Actual results may differ materially from those contained in the forward-looking statements.  Factors which may cause actual results to differ materially from those contained in such forward-looking statements include those identified in the Company's most recent Form 10-K and subsequent SEC filings.  Such factors are incorporated herein by reference. 

Investor Contact:
Ben McCarville, Vice President, Director of Investor Relations    
920-491-7059

Media Contact:
Jennifer Kaminski, Vice President, Public Relations Senior Manager
920-491-7576

View original content:https://www.prnewswire.com/news-releases/associated-announces-annual-meeting-results-and-dividends-301807482.html

SOURCE Associated Banc-Corp

FAQ

What is the quarterly cash dividend amount for Associated Banc-Corp (ASB)?

The quarterly cash dividend for Associated Banc-Corp is $0.21 per common share.

When will the ASB dividend be paid?

The dividend will be paid on June 15, 2023, to shareholders of record as of June 1, 2023.

What dividends were declared for Associated Banc-Corp's preferred stocks?

The dividends declared are $0.3671875 for Series E and $0.3515625 for Series F, both payable on June 15, 2023.

Who were re-elected to the Board of Directors at Associated Banc-Corp's annual meeting?

Key re-elected directors include John (Jay) B. Williams and Andrew J. Harmening.

What firm was ratified as the independent accounting firm for Associated Banc-Corp for 2023?

KPMG LLP was ratified as the independent accounting firm for 2023.