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

Rhea-AI Summary

Atlantic Union Bankshares Corporation has declared a quarterly dividend of $0.32 per share of common stock, representing a 7% increase from the previous quarter. The dividend yield is approximately 4.6%. The Company has also declared a quarterly dividend on its Series A preferred stock.

Positive

• The quarterly dividend of $0.32 per share of common stock represents a 7% increase from the previous quarter
• The dividend yield is approximately 4.6%

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 an approximately 7% increase from the dividend in the third quarter of 2023 and the fourth quarter of 2022. Based on the Company’s common stock closing price of $27.74 on October 25, 2023, the dividend yield is approximately 4.6%. The common stock dividend is payable on November 24, 2023 to common shareholders of record as of November 10, 2023.

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, 2023 to holders of record as of November 16, 2023.

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 has 109 branches and 123 ATMs located throughout Virginia, and in portions of Maryland and North Carolina as of September 30, 2023. 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/20231026033842/en/

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

Source: Atlantic Union Bankshares Corporation

FAQ

What is the dividend per share of common stock?

The dividend per share of common stock is $0.32

What is the dividend yield?

The dividend yield is approximately 4.6%