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 (AUB) has declared a quarterly dividend of $0.30 per share, maintaining the same dividend as the previous quarter and reflecting a 7.1% increase from the same quarter last year. With a closing stock price of $33.71 on October 26, 2022, this results in a dividend yield of approximately 3.6%. The dividend is payable on November 25, 2022, to shareholders on record as of November 11, 2022. Additionally, a dividend of $171.88 per share for the Series A preferred stock will be paid on December 1, 2022.

Positive

• Quarterly dividend of $0.30 per share reflects a 7.1% increase year-over-year.
• Dividend yield of approximately 3.6% based on recent stock price.
• Commitment to returning value to shareholders indicated by consistent dividends.

Negative

• None.

RICHMOND, Va., Oct. 27, 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 the same as the third quarter of 2022 and a $0.02, or 7.1%, increase from the fourth quarter of 2021. Based on the Company’s common stock closing price of $33.71 on October 26, 2022, the dividend yield is approximately 3.6%. The common stock dividend is payable on November 25, 2022 to common shareholders of record as of November 11, 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 December 1, 2022 to holders of record as of November 16, 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 Atlantic Union Bankshares Corporation?

Atlantic Union Bankshares Corporation has declared a quarterly dividend of $0.30 per share.

When will the dividend be paid to shareholders of Atlantic Union Bankshares?

The dividend will be payable on November 25, 2022.

What is the record date for the dividend payment by AUB?

The record date for the dividend payment is November 11, 2022.

What is the dividend yield based on the recent stock price of AUB?

The dividend yield is approximately 3.6% based on a closing price of $33.71.

What is the dividend for the Series A preferred stock?

The dividend for the Series A preferred stock is $171.88 per share, payable on December 1, 2022.