Flagstar Bancorp Announces Increase in Quarterly Dividend to $0.06 per share

Rhea-AI Summary

Flagstar Bancorp, Inc. (NYSE: FBC) announced a quarterly cash dividend of $0.06 per share, reflecting a 20% increase from the previous $0.05 per share. This dividend will be payable on March 15, 2021, to shareholders of record by the close of business on March 1, 2021. The company, headquartered in Troy, Mich., operates 158 branches across five states and is a leading provider of mortgage and consumer loans, handling payments for approximately $227 billion of loans for nearly 1.1 million borrowers.

Positive

• Increase in dividend from $0.05 to $0.06 per share, reflecting a 20% boost.
• Demonstrates financial strength and commitment to returning capital to shareholders.

Negative

• The ongoing COVID-19 pandemic may adversely affect business operations and financial conditions.

TROY, Mich., Jan. 20, 2021 /PRNewswire/ -- Flagstar Bancorp, Inc. (NYSE: FBC), the holding company for Flagstar Bank, FSB, today announced its board of directors has declared a quarterly cash dividend of $0.06 per share on its common stock, an increase of $0.01 per share, or 20 percent. The dividend will be payable March 15, 2021, to shareholders of record at the close of business March 1, 2021.

About Flagstar

Flagstar Bancorp, Inc. (NYSE: FBC) is a $31.0 billion savings and loan holding company headquartered in Troy, Mich. Flagstar Bank, FSB, provides commercial, small business, and consumer banking services through 158 branches in Michigan, Indiana, California, Wisconsin and Ohio. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 103 retail locations in 28 states, representing the combined retail branches of Flagstar and its Opes Advisors mortgage division. Flagstar is a leading national originator and servicer of mortgage and other consumer loans, handling payments and record keeping for $227 billion of loans representing almost 1.1 million borrowers. For more information, please visit flagstar.com.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of Flagstar Bancorp, Inc.'s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause the Company's actual results to differ materially from those described in the forward-looking statements can be found in periodic Flagstar reports filed with the U.S. Securities and Exchange Commission, which are available on the Company's website (flagstar.com) and on the Securities and Exchange Commission's website (sec.gov). The COVID-19 pandemic is adversely affecting us, our customers, counterparties, employees, and third-party service providers, and the ultimate extent of the impacts on our business, financial position, results of operations, liquidity, and prospects is uncertain. Other than as required under United States securities laws, Flagstar Bancorp does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.

For further information
ANALYSTS: Ken Schellenberg, Investor Relations, (248) 312-5741, FBCInvestorRelations@flagstar.com  
MEDIA:  Susan Bergesen, Corporate Communications, (248) 312-6237

View original content:http://www.prnewswire.com/news-releases/flagstar-bancorp-announces-increase-in-quarterly-dividend-to-0-06-per-share-301211894.html

SOURCE Flagstar Bancorp, Inc.

FAQ

What is the new quarterly dividend amount for FBC?

The new quarterly dividend amount for Flagstar Bancorp (FBC) is $0.06 per share.

When will the dividend be paid to FBC shareholders?

The dividend will be paid on March 15, 2021.

What was the previous dividend amount for FBC before the increase?

The previous dividend amount was $0.05 per share.

What date is the record date for FBC's dividend?

The record date for the dividend is March 1, 2021.

How does the COVID-19 pandemic impact FBC's operations?

The COVID-19 pandemic is causing uncertainty and could adversely affect the company's business and financial condition.