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 of common stock, maintaining the same amount as the previous quarter and the third quarter of 2019. With a closing price of $23.79 on July 23, 2020, the dividend yield is approximately 4.2%. This dividend will be payable on August 21, 2020, to shareholders of record as of August 7, 2020. Furthermore, a dividend of $156.60 per share on the Series A preferred stock is set for September 1, 2020, payable to holders of record as of August 14, 2020.

Positive

• Quarterly dividend of $0.25 per share maintained, indicating stability in dividend policy.
• Dividend yield at approximately 4.2%, attractive for income-focused investors.
• Further dividend on Series A preferred stock enhances income for preferred shareholders.

Negative

• None.

RICHMOND, Va., July 24, 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 third quarter of 2019.

Based on the Company’s common stock closing price of $23.79 on July 23, 2020, the dividend yield is approximately 4.2%.  The common stock dividend is payable on August 21, 2020 to common shareholders of record as of August 7, 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 $156.60 per share (equivalent to $0.39 per outstanding depositary share) is payable on September 1, 2020 to holders of record as of August 14, 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 149 branches and approximately 170 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., Dixon, Hubard, Feinour, & Brown, Inc., and Middleburg Investment Services, LLC, which provide investment advisory and/or 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 Corporation in Q3 2020?

The dividend amount for Q3 2020 is $0.25 per share of common stock.

When will the common stock dividend be paid for AUB?

The common stock dividend will be paid on August 21, 2020.

What is the dividend yield for Atlantic Union Bankshares Corporation?

The dividend yield is approximately 4.2% based on a closing stock price of $23.79.

What is the dividend payment date for Series A preferred stock?

The dividend on Series A preferred stock will be paid on September 1, 2020.