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

Rhea-AI Summary

Atlantic Union Bankshares has announced a quarterly dividend increase of $0.34 per common share, representing a 6% increase from both the third quarter of 2024 and fourth quarter of 2023. Based on the October 24, 2024 closing price of $37.10, the dividend yield is approximately 3.7%. The common stock dividend will be paid on November 22, 2024, to shareholders of record as of November 8, 2024.

Additionally, the company declared a quarterly dividend of $171.88 per share on its Series A preferred stock (equivalent to $0.43 per depositary share), payable on December 2, 2024, to holders of record as of November 15, 2024.

Positive

• 6% increase in quarterly common stock dividend
• Attractive dividend yield of 3.7%
• Consistent dividend payments maintained for both common and preferred stocks

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 $0.34 per share of common stock, which is a $0.02, or approximately 6%, increase from the third quarter of 2024 and an approximately 6% increase from the dividend in the fourth quarter of 2023. Based on the Company’s common stock closing price of $37.10 on October 24, 2024, the dividend yield is approximately 3.7%. The common stock dividend is payable on November 22, 2024 to common shareholders of record as of November 8, 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 December 2, 2024 to holders of record as of November 15, 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 September 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/20241024590408/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) new quarterly dividend amount for Q4 2024?

Atlantic Union Bankshares' new quarterly dividend is $0.34 per common share, representing a 6% increase from the previous quarter.

When is Atlantic Union Bankshares' (AUB) Q4 2024 dividend payment date?

The common stock dividend will be paid on November 22, 2024, to shareholders of record as of November 8, 2024.

What is Atlantic Union Bankshares' (AUB) current dividend yield as of October 24, 2024?

Based on the closing price of $37.10 on October 24, 2024, Atlantic Union Bankshares' dividend yield is approximately 3.7%.

What is the Series A preferred stock dividend amount for Atlantic Union Bankshares (AUB) in Q4 2024?

The Series A preferred stock dividend is $171.88 per share (equivalent to $0.43 per depositary share), payable on December 2, 2024.