Atlantic Union Bankshares Corporation Declares Quarterly Common Stock Dividend and Preferred Stock Dividend

Rhea-AI Summary

The Board of Directors of Atlantic Union Bankshares Corporation has declared a quarterly dividend of $0.30 per share of common stock, maintaining the rate from Q4 2022, but reflecting a 7.1% increase from Q1 2022. This translates to a dividend yield of approximately 3.2%, based on a stock closing price of $38.04 on January 26, 2023. The dividend will be payable on February 24, 2023 to shareholders of record by February 10, 2023. Additionally, a dividend of $171.88 per share on the 6.875% Series A Preferred Stock is set for March 1, 2023.

Positive

• Quarterly dividend increased by $0.02 or 7.1% from Q1 2022.
• Dividend yield of approximately 3.2% at a stock price of $38.04.
• Consistent dividend payout reflects company stability.

Negative

• None.

RICHMOND, Va.--(BUSINESS WIRE)-- The Board of Directors (the “Board”) of Atlantic Union Bankshares Corporation (the “Company”) has declared a quarterly dividend of $0.30 per share of common stock, which is the same as the fourth quarter of 2022 and a $0.02, or 7.1%, increase from the first quarter of 2022. Based on the Company’s common stock closing price of $38.04 on January 26, 2023, the dividend yield is approximately 3.2%. The common stock dividend is payable on February 24, 2023 to common shareholders of record as of February 10, 2023.

The Board also declared a quarterly dividend on the outstanding shares of the Company’s 6.875% Perpetual Non-Cumulative Preferred Stock, Series A (the “Series A preferred stock”). The Series A preferred stock is represented by depositary shares, each representing a 1/400^th ownership interest in a share of Series A preferred stock. The dividend of $171.88 per share (equivalent to $0.43 per outstanding depositary share) is payable on March 1, 2023 to holders of record as of February 14, 2023.

About Atlantic Union Bankshares Corporation

Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB) is the holding company for Atlantic Union Bank. Atlantic Union Bank has 114 branches and approximately 130 ATMs located throughout Virginia, and in portions of Maryland and North Carolina. Certain non-bank financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment Finance, Inc., which provides equipment financing; Atlantic Union Financial Consultants, LLC, which provides brokerage services; and Union Insurance Group, LLC, which offers various lines of insurance products.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230127005416/en/

Bill Cimino

Senior Vice President and Director of Investor Relations

804.448.0937

Source: Atlantic Union Bankshares Corporation

FAQ

What is the dividend amount declared by Atlantic Union Bankshares Corporation for Q1 2023?

The dividend amount declared is $0.30 per share.

When will the dividend be paid to shareholders for Atlantic Union Bankshares Corporation?

The dividend will be payable on February 24, 2023.

What is the record date for the dividend payment of Atlantic Union Bankshares Corporation?

The record date for the dividend payment is February 10, 2023.

What is the dividend yield for Atlantic Union Bankshares Corporation as of January 26, 2023?

The dividend yield is approximately 3.2%.

What is the dividend for the Series A Preferred Stock of Atlantic Union Bankshares Corporation?

The dividend for the Series A Preferred Stock is $171.88 per share.