Cadence Bank Declares Special Preferred Dividend to be Paid if Favorable Vote Received and Announces Adjournment of its Special Meeting to Solicit Additional Votes
Cadence Bank (NYSE: CADE) has announced the adjournment of its special meeting of shareholders until April 25, 2025, to gather additional preferred shareholder votes for Proposal 2. The proposal would authorize the Board to implement stock repurchases under Regulation H.
The Board has declared a special cash dividend of $0.34375 per share of Series A Preferred Stock (NYSE: CADE/PA), contingent upon Proposal 2 receiving two-thirds approval from preferred stockholders. If approved, the dividend would be paid on May 7, 2025, to shareholders of record as of April 30, 2025.
Common shareholders have already approved all four proposals on December 30, 2024, while preferred shareholders have approved Proposal 4. The record date for voting eligibility remains November 8, 2024. The reconvened virtual Special Meeting will be held at 9:00 a.m. Central Time.
Cadence Bank (NYSE: CADE) ha annunciato il rinvio della sua riunione straordinaria degli azionisti al 25 aprile 2025, per raccogliere ulteriori voti da parte degli azionisti privilegiati per la Proposta 2. La proposta autorizzerebbe il Consiglio a implementare riacquisti di azioni ai sensi del Regolamento H.
Il Consiglio ha dichiarato un dividendo speciale in contante di $0.34375 per azione delle Azioni Preferenziali di Serie A (NYSE: CADE/PA), subordinato all'approvazione della Proposta 2 da parte di due terzi degli azionisti privilegiati. Se approvato, il dividendo sarà pagato il 7 maggio 2025, agli azionisti registrati al 30 aprile 2025.
Gli azionisti ordinari hanno già approvato tutte e quattro le proposte il 30 dicembre 2024, mentre gli azionisti privilegiati hanno approvato la Proposta 4. La data di registrazione per l'idoneità al voto rimane l'8 novembre 2024. La riunione straordinaria virtuale riconvocata si terrà alle 9:00 ora centrale.
Cadence Bank (NYSE: CADE) ha anunciado el aplazamiento de su reunión especial de accionistas hasta el 25 de abril de 2025, para reunir más votos de accionistas preferentes para la Propuesta 2. La propuesta autorizaría a la Junta a implementar recompras de acciones bajo la Regulación H.
La Junta ha declarado un dividendo en efectivo especial de $0.34375 por acción de las Acciones Preferentes de Serie A (NYSE: CADE/PA), condicionado a que la Propuesta 2 reciba la aprobación de dos tercios de los accionistas preferentes. Si se aprueba, el dividendo se pagará el 7 de mayo de 2025, a los accionistas registrados al 30 de abril de 2025.
Los accionistas comunes ya han aprobado las cuatro propuestas el 30 de diciembre de 2024, mientras que los accionistas preferentes han aprobado la Propuesta 4. La fecha de registro para la elegibilidad para votar sigue siendo el 8 de noviembre de 2024. La reunión especial virtual reconvocada se llevará a cabo a las 9:00 a.m. hora central.
Cadence Bank (NYSE: CADE)는 주주 특별 회의를 2025년 4월 25일까지 연기한다고 발표했습니다. 이는 제안 2에 대한 추가 우선주주 투표를 수집하기 위함입니다. 이 제안은 이사회가 규정 H에 따라 자사주 매입을 시행할 수 있도록 허가합니다.
이사회는 1주당 $0.34375의 특별 현금 배당금을 시리즈 A 우선주 (NYSE: CADE/PA)에 대해 선언했습니다. 이는 제안 2가 우선주주로부터 3분의 2의 승인을 받을 경우에 한합니다. 승인이 이루어지면, 배당금은 2025년 5월 7일에 2025년 4월 30일 기준 주주에게 지급됩니다.
보통주주들은 이미 2024년 12월 30일에 네 가지 제안을 모두 승인했으며, 우선주주들은 제안 4를 승인했습니다. 투표 자격을 위한 기준일은 2024년 11월 8일로 유지됩니다. 재소집된 가상 특별 회의는 중앙 시간 기준으로 오전 9시에 개최됩니다.
Cadence Bank (NYSE: CADE) a annoncé le report de sa réunion spéciale des actionnaires au 25 avril 2025, afin de recueillir des votes supplémentaires d'actionnaires privilégiés pour la Proposition 2. Cette proposition autoriserait le Conseil à mettre en œuvre des rachats d'actions conformément à la Réglementation H.
Le Conseil a déclaré un dividende exceptionnel en espèces de 0,34375 $ par action des Actions Privilégiées de Série A (NYSE: CADE/PA), sous réserve que la Proposition 2 reçoive l'approbation des deux tiers des actionnaires privilégiés. Si approuvé, le dividende sera versé le 7 mai 2025, aux actionnaires inscrits au 30 avril 2025.
Les actionnaires ordinaires ont déjà approuvé les quatre propositions le 30 décembre 2024, tandis que les actionnaires privilégiés ont approuvé la Proposition 4. La date d'enregistrement pour l'éligibilité au vote reste le 8 novembre 2024. La réunion spéciale virtuelle reconvoquée se tiendra à 9h00, heure centrale.
Cadence Bank (NYSE: CADE) hat die Verschiebung seiner außerordentlichen Hauptversammlung der Aktionäre auf den 25. April 2025 bekannt gegeben, um zusätzliche Stimmen von Vorzugsaktionären für den Vorschlag 2 zu sammeln. Der Vorschlag würde dem Vorstand die Genehmigung erteilen, Aktienrückkäufe gemäß der Regulierung H durchzuführen.
Der Vorstand hat eine besondere Barausschüttung von $0.34375 pro Aktie der Serie A Vorzugsaktien (NYSE: CADE/PA) erklärt, die davon abhängt, dass Vorschlag 2 von zwei Dritteln der Vorzugsaktionäre genehmigt wird. Wenn genehmigt, wird die Ausschüttung am 7. Mai 2025 an die am 30. April 2025 registrierten Aktionäre ausgezahlt.
Die Stammaktionäre haben bereits am 30. Dezember 2024 alle vier Vorschläge genehmigt, während die Vorzugsaktionäre Vorschlag 4 genehmigt haben. Der Stichtag für die Wahlberechtigung bleibt der 8. November 2024. Die erneut einberufene virtuelle außerordentliche Hauptversammlung findet um 9:00 Uhr Central Time statt.
- Special cash dividend of $0.34375 per preferred share announced
- Common shareholders have already approved all proposals
- Board authorized to implement stock repurchases if approved
- Meeting repeatedly adjourned due to insufficient preferred shareholder votes
- Dividend payment contingent on securing two-thirds preferred shareholder approval
At its meeting today, the board of directors of the Company declared a special cash dividend of
Proposal 2 is described in more detail in the Company's proxy statement dated Nov. 19, 2024, furnished to the Company's shareholders in connection with the solicitation of proxies by the Company's Board of Directors for use at the Special Meeting. The Company's common shareholders approved Proposals 1, 2, 3 and 4 at the Special Meeting on Dec. 30, 2024, prior to adjournment, which was all of the business to be voted upon by common shareholders at the Special Meeting. The Company's preferred shareholders approved Proposal 4 prior to adjournment.
The record date for determining shareholders eligible to vote at the Special Meeting will remain the close of business on Nov. 8, 2024. Valid proxies submitted by Company preferred shareholders will continue to be valid for purposes of the reconvened Special Meeting scheduled for Friday, April 25, 2025.
Company preferred shareholders as of the close of business on Nov. 8, 2024, who have not voted on Proposal 2 but wish to do so should contact Okapi Partners, the Company's proxy solicitor, at info@okapipartners.com or (855) 208-8902 (Toll-Free).
Attending the Virtual Special Meeting
The reconvened Special Meeting of the Company's preferred shareholders to vote on Proposal 2 will be held virtually on Friday, April 25, 2025, at 9:00 a.m. Central Time.
Preferred shareholders may attend and participate in the reconvened Special Meeting virtually by visiting the following web address, meetnow.global/MLVC22S, and entering the 15-digit control number found on the Notice of Internet Availability of Proxy Materials (Notice) received. Preferred shareholders who hold shares through an intermediary, such as a bank or broker, must register in advance using the instructions in the Notice materials.
About Cadence Bank
Cadence Bank (NYSE: CADE) is a
Additional Information
This communication may be deemed to be additional solicitation material with respect to the special meeting. On November 19, 2024, the Company filed a definitive proxy statement with the Federal Deposit Insurance Corporation ("FDIC") in connection with the Special Meeting. SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT AND ANY OTHER SOLICITING MATERIALS THAT ARE FILED WITH THE FDIC OR FEDERAL RESERVE WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE PROPOSAL TO BE VOTED UPON. The Company's proxy statement and any other solicitation materials filed by the Company with the FDIC and Federal Reserve can be obtained free of charge on the Investor Relations section of our website at ir.cadencebank.com. Shareholders may also request a copy of these materials at no cost by contacting the Company at 201 South Spring Street,
Forward-Looking Statements
This press release may contain certain "forward-looking statements" including statements concerning plans, objectives, future events or performance and assumptions and other statements, which are statements other than statements of historical fact. The Company cautions readers that certain factors may have affected and could in the future affect actual results and could cause actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company herein. For a list of factors which could affect the Company's results, see the Company's filings with the FDIC and Federal Reserve, including "Item 1A. Risk Factors," set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date of this filing, even if subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.
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SOURCE Cadence Bank