First Citizens BancShares Declares Dividends

Rhea-AI Summary

The Board of Directors of First Citizens BancShares declared a quarterly dividend of 47 cents per share for Class A and Class B common stock, payable on May 28, 2021, to shareholders of record on May 14, 2021.

Additionally, a quarterly dividend on the 5.375% non-cumulative perpetual preferred stock, Series A, will be paid on June 15, 2021, to holders of record as of May 31, 2021.

Currently, there are 345,000 shares outstanding for Series A preferred stock under a deposit agreement.

Positive

• Quarterly dividend of 47 cents per share indicates profitability and commitment to returning value to shareholders.
• Scheduled dividends provide predictable income for investors.

Negative

• None.

RALEIGH, N.C., April 28, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of First Citizens BancShares Inc. (Nasdaq: FCNCA) declared on April 27, 2021, a quarterly dividend of 47 cents per share on the company’s Class A and Class B common stock. The dividend is payable May 28, 2021, to shareholders of record May 14, 2021.

The Board also declared a regular quarterly dividend on the company’s 5.375% non-cumulative perpetual preferred stock, Series A, to be paid on June 15, 2021, to holders of record as of May 31, 2021.

There are currently 345,000 outstanding shares of the Series A preferred stock which are held pursuant to a Deposit Agreement dated March 12, 2020. Under that agreement, an aggregate of 13,800,000 depositary shares were issued, each representing a 1/40th interest in a share of the Series A preferred stock.

ABOUT FIRST CITIZENS BANCSHARES

First Citizens BancShares Inc. is the financial holding company for First Citizens Bank. First Citizens Bank provides a broad range of financial services to individuals, businesses, professionals and the medical community through branch offices in 19 states, digital banking, ATMs and telephone banking. For more information, visit First Citizens’ Web site at firstcitizens.com.

Contact:		Barbara Thompson Corporate Communications 919-716-2716		Deanna Hart Investor Relations 919-716-2137

FAQ

What is the dividend amount declared by First Citizens BancShares?

First Citizens BancShares declared a dividend of 47 cents per share on its Class A and Class B common stock.

When will the dividend be paid to shareholders?

The dividend will be paid on May 28, 2021, to shareholders of record on May 14, 2021.

What is the payment date for the preferred stock dividend?

The dividend for the 5.375% non-cumulative perpetual preferred stock, Series A, will be paid on June 15, 2021.

How many shares of Series A preferred stock are outstanding?

There are currently 345,000 outstanding shares of the Series A preferred stock.