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

Rhea-AI Summary

Atlantic Union Bankshares (AUB) has announced its quarterly dividend declarations. The Board of Directors declared a common stock dividend of $0.32 per share, unchanged from the previous quarter but representing a 7% increase from Q3 2023. Based on the closing price of $40.36 on July 25, 2024, this translates to a dividend yield of approximately 3.2%. The common stock dividend is payable on August 23, 2024, to shareholders of record as of August 9, 2024.

Additionally, the company declared a quarterly dividend on its 6.875% Perpetual Non-Cumulative Preferred Stock, Series A. The preferred stock dividend amounts to $171.88 per share (equivalent to $0.43 per depositary share) and is payable on September 3, 2024, to holders of record as of August 19, 2024.

Positive

• Maintained quarterly common stock dividend of $0.32 per share
• 7% increase in common stock dividend compared to Q3 2023
• Attractive dividend yield of approximately 3.2% based on current stock price
• Continued payment of preferred stock dividend, indicating financial 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 $0.32 per share of common stock, which is the same as the second quarter of 2024 and an approximately 7% increase from the dividend in the third quarter of 2023. Based on the Company’s common stock closing price of $40.36 on July 25, 2024, the dividend yield is approximately 3.2%. The common stock dividend is payable on August 23, 2024 to common shareholders of record as of August 9, 2024.

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 September 3, 2024 to holders of record as of August 19, 2024.

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 had 129 branches and approximately 150 ATMs located throughout Virginia and in portions of Maryland and North Carolina as of June 30, 2024. 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/20240725962741/en/

Bill Cimino, Senior Vice President and Director of Investor Relations 804.448.0937

Source: Atlantic Union Bankshares Corporation

FAQ

What is Atlantic Union Bankshares' (AUB) latest quarterly common stock dividend?

Atlantic Union Bankshares (AUB) declared a quarterly common stock dividend of $0.32 per share, payable on August 23, 2024.

How does AUB's current dividend compare to previous quarters?

The $0.32 per share dividend is the same as the second quarter of 2024 and represents an approximately 7% increase from the third quarter of 2023.

What is the dividend yield for Atlantic Union Bankshares (AUB) based on the recent stock price?

Based on AUB's closing price of $40.36 on July 25, 2024, the dividend yield is approximately 3.2%.

When is the record date for AUB's common stock dividend?

The record date for AUB's common stock dividend is August 9, 2024.

What is the dividend amount for AUB's Series A preferred stock?

AUB declared a dividend of $171.88 per share on its 6.875% Perpetual Non-Cumulative Preferred Stock, Series A, equivalent to $0.43 per depositary share.