Customers Bancorp, Inc. Declares Quarterly Cash Dividend on Its Series C, Series D, Series E, and Series F Preferred Stock

Rhea-AI Summary

Customers Bancorp, Inc. declared quarterly cash dividends for its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stocks: Series C ($0.350753), Series D ($0.40625), Series E ($0.403125), and Series F ($0.375). All dividends are payable on December 15, 2020, to shareholders of record as of November 30, 2020. The company, based in West Reading, Pennsylvania, operates through its subsidiary, Customers Bank, which has $18.8 billion in assets. Customers Bancorp's common shares trade on the NYSE under the symbol CUBI.

Positive

• Dividend declaration reflecting company confidence.
• Diverse series of preferred stock offerings provide options for investors.

Negative

• None.

WEST READING, Pa.--(BUSINESS WIRE)--Customers Bancorp, Inc. announced that the Board of Directors has declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C (NYSE: CUBIPrC) of $0.350753 per share. The dividend is payable on December 15, 2020 to shareholders of record on November 30, 2020.

The Board of Directors has also declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (NYSE: CUBIPrD) of $0.40625 per share. The dividend is payable on December 15, 2020 to shareholders of record on November 30, 2020.

The Board of Directors has also declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE: CUBIPrE) of $0.403125 per share. The dividend is payable on December 15, 2020 to shareholders of record on November 30, 2020.

The Board of Directors has also declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (NYSE: CUBIPrF) of $0.375 per share. The dividend is payable on December 15, 2020 to shareholders of record on November 30, 2020.

Institutional Background

Customers Bancorp, Inc. is a bank holding company located in West Reading, Pennsylvania engaged in banking and related businesses through its bank subsidiary, Customers Bank a full-service bank with $18.8 billion in assets at September 30, 2020. A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking and lending services to small and medium-sized businesses, professionals, individuals and families. Services and products are available wherever permitted by law through mobile-first apps, online portals, and a network of offices and branches. Customers Bancorp, Inc.’s voting common shares are listed on the New York Stock Exchange under the symbol CUBI.