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 for common stock, marking a 7% increase from the previous year. Based on the closing price of $33.80 on July 27, 2022, the dividend yield is approximately 3.6%. This dividend will be payable on August 26, 2022 to shareholders of record as of August 12, 2022. Additionally, a dividend of $171.88 per share on the 6.875% Perpetual Non-Cumulative Preferred Stock will be paid on September 1, 2022 to holders of record as of August 17, 2022.

Positive

• Quarterly dividend increased by $0.02, or 7%, from previous periods.
• Dividend yield of approximately 3.6% based on recent closing price.

Negative

• None.

RICHMOND, Va., July 28, 2022 (GLOBE NEWSWIRE) -- 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 a $0.02, or 7%, increase from the second quarter of 2022 and third quarter of 2021. Based on the Company’s common stock closing price of $33.80 on July 27, 2022, the dividend yield is approximately 3.6%. The common stock dividend is payable on August 26, 2022 to common shareholders of record as of August 12, 2022.

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 1, 2022 to holders of record as of August 17, 2022.

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 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.

Contact:

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

FAQ

What is the dividend amount declared by AUB?

AUB has declared a quarterly dividend of $0.30 per share of common stock.

When will the AUB dividend be paid?

The dividend will be paid on August 26, 2022.

What is the dividend yield for AUB based on its recent price?

The dividend yield is approximately 3.6% based on a closing price of $33.80.

What is the dividend for AUB's preferred stock?

The dividend for the 6.875% Perpetual Non-Cumulative Preferred Stock is $171.88 per share.