First Citizens BancShares Declares Dividends

Rhea-AI Summary

First Citizens BancShares declared a quarterly dividend of 47 cents per share for Class A and Class B common stock, payable on November 30, 2021, to shareholders of record by November 10, 2021.

The Board also approved a regular quarterly dividend for the 5.375% non-cumulative perpetual preferred stock, Series A, to be distributed on December 15, 2021, to holders of record as of November 30, 2021.

As of now, there are 345,000 outstanding shares of Series A preferred stock.

Positive

• Declaration of a quarterly dividend of 47 cents, reflecting company confidence in financial stability.
• Regular dividends on preferred stock signify steady income for preferred shareholders.

Negative

• None.

RALEIGH, N.C., Oct. 27, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of First Citizens BancShares Inc. (Nasdaq: FCNCA) declared on Oct. 26, 2021, a quarterly dividend of 47 cents per share on the company’s Class A and Class B common stock. The dividend is payable Nov. 30, 2021, to shareholders of record Nov. 10, 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 Dec. 15, 2021, to holders of record as of Nov. 30, 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 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?

The declared dividend is 47 cents per share for Class A and Class B common stock.

When will the dividend be paid to shareholders?

The dividend will be paid on November 30, 2021.

What are the details about the preferred stock dividend?

The preferred stock dividend of 5.375% will be paid on December 15, 2021.

What is the record date for the common stock dividend?

The record date for the common stock dividend is November 10, 2021.