Associated Banc-Corp Announces Dividends and Share Repurchase Program

Rhea-AI Summary

The Board of Directors of Associated Banc-Corp (ASB) announced a quarterly cash dividend of $0.20 per common share, payable on December 15, 2021. Additionally, dividends of $0.3671875 and $0.3515625 will be paid for the Series E and Series F preferred stocks, respectively, on the same date. The Board also approved a $100 million share repurchase program, providing flexibility for stock buybacks subject to regulatory limits, aimed at enhancing shareholder value.

Positive

• Quarterly cash dividend of $0.20 per common share enhances shareholder returns.
• Authorized $100 million stock buyback program may support share price and investor confidence.

Negative

• None.

GREEN BAY, Wis., Oct. 26, 2021 /PRNewswire/ -- The Board of Directors of Associated Banc-Corp (NYSE: ASB) ("Associated") today declared a regular quarterly cash dividend of $0.20 per common share, payable on December 15, 2021 to shareholders of record at the close of business on December 1, 2021.

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 December 15, 2021 to shareholders of record at the close of business on December 1, 2021.

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 December 15, 2021 to shareholders of record at the close of business on December 1, 2021.

In addition, the Board authorized the repurchase of up to $100 million of Associated's common stock.  This repurchase authorization is in addition to the authority remaining under the previous program. Repurchases under such programs are subject to regulatory limitations and may occur from time to time in open market purchases, block transactions, accelerated share repurchase programs or similar facilities.

ABOUT ASSOCIATED BANC-CORP

Associated Banc-Corp (NYSE: ASB) has total assets of $34 billion and is Wisconsin's largest bank holding company. 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, and commercial financial services in Indiana, Michigan, Missouri, 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

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SOURCE Associated Banc-Corp

FAQ

What is the dividend amount declared by Associated Banc-Corp (ASB) for Q4 2021?

Associated Banc-Corp declared a quarterly cash dividend of $0.20 per common share for Q4 2021.

When will the dividends for Associated Banc-Corp be paid?

The dividends will be paid on December 15, 2021.

What is the purpose of the $100 million stock repurchase program by ASB?

The $100 million stock repurchase program aims to enhance shareholder value and may support the stock price.

What are the preferred stock dividend amounts declared by ASB?

The dividends for the preferred stocks are $0.3671875 for Series E and $0.3515625 for Series F.