Flagstar Bancorp Announces Quarterly Dividend of $0.05 per share

Rhea-AI Summary

Flagstar Bancorp (NYSE: FBC) has announced a quarterly cash dividend of $0.05 per share, payable on September 15, 2020, to shareholders recorded by September 1, 2020. The company, with a total asset portfolio of $27.5 billion, operates through 160 branches across several states including Michigan, Indiana, and California. It is a significant player in the mortgage sector, managing over $214 billion in loans for more than 1 million borrowers. However, the ongoing COVID-19 pandemic poses uncertainties for its financial position and operations.

Positive

• Declared a quarterly cash dividend of $0.05 per share.
• Total assets of $27.5 billion reflect financial stability.
• Operates through 160 branches in multiple states, enhancing market presence.

Negative

• The COVID-19 pandemic is affecting business operations and financial positions.

TROY, Mich., July 28, 2020 /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 $0.05 per share on its common stock. The dividend will be payable September 15, 2020, to shareholders of record at the close of business September 1, 2020.

About Flagstar

Flagstar Bancorp, Inc. (NYSE: FBC) is a $27.5 billion savings and loan holding company headquartered in Troy, Mich. Flagstar Bank, FSB, provides commercial, small business, and consumer banking services through 160 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 89 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 $214 billion of loans representing slightly over 1.0 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 
MEDIA:  Susan Bergesen, Corporate Communications, (248) 312-6237

 

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SOURCE Flagstar Bancorp, Inc.

FAQ

What is the dividend amount declared by Flagstar Bancorp (FBC)?

Flagstar Bancorp has declared a quarterly cash dividend of $0.05 per share.

When will the dividend for Flagstar Bancorp (FBC) be paid?

The dividend will be payable on September 15, 2020.

What are the financial implications of COVID-19 for Flagstar Bancorp (FBC)?

The COVID-19 pandemic is creating uncertainties regarding Flagstar Bancorp's financial position and operations.

Who is eligible to receive the dividend from Flagstar Bancorp (FBC)?

Shareholders of record at the close of business on September 1, 2020, will be eligible to receive the dividend.