Cadence Bank Announces Increase in Quarterly Common Dividend; Declares Preferred Dividend

Rhea-AI Summary

Cadence Bank (NYSE: CADE) announced an increase in its quarterly cash dividend to $0.235 per share, up 6.8% from $0.22. This dividend is payable on April 3, 2023, to shareholders of record by March 15, 2023. Additionally, a dividend of $0.34375 per share of Series A Preferred Stock will be paid on February 21, 2023, to shareholders of record by February 3, 2023. Cadence Bank will release its fourth-quarter financial results on January 30, 2023.

Positive

• Increased quarterly common dividend to $0.235 per share, reflecting a 6.8% rise.
• Commitment to return income to shareholders through regular dividend payments.

Negative

• None.

TUPELO, Miss. and HOUSTON, Jan. 25, 2023 /PRNewswire/ -- At its meeting today, the board of directors of Cadence Bank (NYSE: CADE) (Cadence) declared a quarterly cash dividend of $0.235 per share of common stock, which represents an increase of $0.015, or 6.8%, per share compared to the previous quarterly dividend of $0.22 per common share. The common stock dividend is payable on April 3, 2023, to shareholders of record at the close of business on March 15, 2023.

The board of directors also declared a quarterly cash dividend of $0.34375 per share of Series A Preferred Stock. The preferred stock dividend is payable on February 21, 2023, to shareholders of record at the close of business on February 3, 2023.

Cadence will report financial results for the fourth quarter of 2022 after the close of the financial markets on January 30, 2023.

About Cadence Bank

Cadence Bank (NYSE: CADE) is a leading regional banking franchise with approximately $50 billion in assets and approximately 400 branch locations across the South and Texas. Cadence provides consumers, businesses and corporations with a full range of innovative banking and financial solutions. Services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, and personal and business insurance. Cadence is committed to a culture of respect, diversity and inclusion in both its workplace and communities. Cadence Bank, Member FDIC. Equal Housing Lender.

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SOURCE Cadence Bank

FAQ

What is the dividend amount for Cadence Bank (CADE) for the upcoming payment?

The dividend amount is $0.235 per share for common stock.

When is the dividend payment date for Cadence Bank (CADE)?

The dividend payment date is April 3, 2023.

What was the previous dividend amount for Cadence Bank (CADE) before the increase?

The previous dividend amount was $0.22 per share.

When will Cadence Bank (CADE) report its fourth-quarter financial results?

Cadence Bank will report its fourth-quarter financial results on January 30, 2023.