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

Rhea-AI Summary

The Board of Directors of Atlantic Union Bankshares has declared a quarterly dividend of $0.28 per share, maintaining the previous quarter's rate and representing a 12% increase from the fourth quarter of 2020. With a closing stock price of $35.39 on October 28, 2021, this results in a dividend yield of approximately 3.2%. The dividend is payable on November 26, 2021 to shareholders of record as of November 12, 2021. Additionally, a dividend of $171.88 per share for the 6.875% Perpetual Non-Cumulative Preferred Stock, Series A will be paid on December 1, 2021.

Positive

• Quarterly dividend maintained at $0.28 per share, reflecting stability.
• 12% increase in common stock dividend compared to the fourth quarter of 2020.
• Dividend yield of approximately 3.2% based on recent stock price.

Negative

• None.

RICHMOND, Va., Oct. 29, 2021 (GLOBE NEWSWIRE) -- The Board of Directors (the “Board”) of Atlantic Union Bankshares Corporation (the “Company”) has declared a quarterly dividend of $0.28 per share of common stock, which is the same as the prior quarter and a 3 cent or 12% increase from the common stock dividend paid in the fourth quarter of 2020. Based on the Company’s common stock closing price of $35.39 on October 28, 2021, the dividend yield is approximately 3.2%. The common stock dividend is payable on November 26, 2021 to common shareholders of record as of November 12, 2021.

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 1, 2021 to holders of record as of November 16, 2021.

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 130 branches and approximately 150 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; Dixon, Hubard, Feinour & Brown, Inc., which provides investment advisory services; 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 for Atlantic Union Bankshares (AUB)?

The declared dividend amount is $0.28 per share.

When is the dividend payable for AUB common stock?

The dividend is payable on November 26, 2021.

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

The dividend yield is approximately 3.2%.

What other dividends were declared by Atlantic Union Bankshares?

A dividend of $171.88 per share was declared for the Series A preferred stock.

When will the Series A preferred stock dividend be paid?

The Series A preferred stock dividend is payable on December 1, 2021.