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 $0.25 per share, consistent with previous quarters. Based on the closing stock price of $24.45 on October 28, 2020, this results in a dividend yield of approximately 4.1%. The dividend will be payable on November 27, 2020 for shareholders of record as of November 13, 2020. Additionally, a dividend of $171.88 per share on the 6.875% Perpetual Non-Cumulative Preferred Stock will be payable on December 1, 2020 for holders of record as of November 16, 2020.

Positive

• Consistent quarterly dividend of $0.25 per share enhances income for shareholders.
• Dividend yield of approximately 4.1% indicates favorable returns for investors.

Negative

• None.

RICHMOND, Va., Oct. 29, 2020 (GLOBE NEWSWIRE) -- The Board of Directors (the “Board”) of Atlantic Union Bankshares Corporation (the “Company”) has declared a quarterly dividend of $0.25 per share of common stock. The common stock dividend amount is the same as that paid in the prior quarter and the fourth quarter of 2019.

Based on the Company’s common stock closing price of $24.45 on October 28, 2020, the dividend yield is approximately 4.1%. The common stock dividend is payable on November 27, 2020 to common shareholders of record as of November 13, 2020.

The Board also declared a quarterly dividend on the outstanding shares of its 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 1, 2020 to holders of record as of November 16, 2020.

About Atlantic Union Bankshares Corporation
Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (Nasdaq: AUB) is the holding company for Atlantic Union Bank. Atlantic Union Bank has 135 branches and approximately 155 ATMs located throughout Virginia, and in portions of Maryland and North Carolina. Middleburg Financial is a brand name used by Atlantic Union Bank and certain affiliates when providing trust, wealth management, private banking, and investment advisory products and services. Certain non-bank affiliates of Atlantic Union Bank include: Old Dominion Capital Management, Inc., and its subsidiary, Outfitter Advisors, Ltd., and Dixon, Hubard, Feinour, & Brown, Inc., which provide investment advisory services; Middleburg Investment Services, LLC, which provides brokerage services; and Union Insurance Group, LLC, which offers various lines of insurance products.

Contact:

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

FAQ

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

The declared dividend amount is $0.25 per share.

When is the dividend payment date for common stock shareholders?

The dividend payment date is November 27, 2020.

What is the dividend yield based on the current stock price?

The dividend yield is approximately 4.1% based on a closing price of $24.45.

What are the details for the preferred stock dividend?

The preferred stock dividend is $171.88 per share, payable on December 1, 2020.

Who is eligible to receive the common stock dividend?

Shareholders of record as of November 13, 2020, are eligible.