First Citizens BancShares Declares Dividends

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The Board of Directors of First Citizens BancShares (NASDAQ: FCNCA) declared dividends on April 25, 2023, for its Class A, Class B common stock, and Series A, B, and C preferred stock. A quarterly dividend of 75 cents per share will be paid on June 15, 2023, to shareholders of record as of May 31, 2023. The Series A preferred stock will receive a dividend on the same date, while the Series B preferred stock will see a non-cumulative cash dividend at a rate of 8.83829%. The Series C preferred stock will also receive its quarterly dividend on the same date. First Citizens BancShares, a top 20 U.S. financial institution with over $200 billion in assets, is celebrating its 125th anniversary this year.

Positive

• Quarterly dividend of 75 cents per share declared for Class A and B common stock.
• Total assets exceeding $200 billion, indicating strong financial standing.
• Company celebrates 125th anniversary, showcasing longevity and stability.

Negative

• None.

RALEIGH, N.C., April 26, 2023 /PRNewswire/ -- The Board of Directors of First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) declared on April 25, 2023, dividends on the company's Class A and Class B common stock, as well as Series A, B and C preferred stock, each for the period commencing on and including the last respective payment date.  

• As noted above, the Board declared a quarterly dividend of 75 cents per share on the company's Class A and Class B common stock. The dividend is payable June 15, 2023, to shareholders of record May 31, 2023.
  
  
• The Board declared a regular quarterly dividend on the company's 5.375% non-cumulative perpetual preferred stock, Series A, to be paid on June 15, 2023, to holders of record as of May 31, 2023.
  
  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.
  
  
• The Board declared a dividend on the company's fixed-to-floating rate, non-cumulative perpetual Series B preferred stock to be paid on June 15, 2023, to holders of record as of May 31, 2023. BancShares will pay a non-cumulative quarterly cash dividend at a rate of 8.83829%, which is equal to three-month LIBOR on the dividend determination date plus a spread of 3.972%.
  
  
• Also, the Board declared a regular quarterly dividend on the company's 5.625% non-cumulative perpetual preferred stock, Series C, to be paid on June 15, 2023, to holders of record as of May 31, 2023.

About First Citizens BancShares
First Citizens BancShares, Inc. (NASDAQ: FCNCA), a top 20 U.S. financial institution with more than $200 billion in assets, is the financial holding company for First-Citizens Bank & Trust Company ("First Citizens Bank"). Headquartered in Raleigh, N.C., and now celebrating the 125th anniversary of its founding, First Citizens Bank has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 550 branches and offices in 23 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; and a nationwide direct bank. First Citizens Bank, Member FDIC. Discover more at firstcitizens.com.

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

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SOURCE First Citizens BancShares, Inc.

FAQ

What is the dividend amount declared by First Citizens BancShares for FCNCA?

The dividend amount declared is 75 cents per share for Class A and B common stock.

When will the dividends be paid for FCNCA?

The dividends will be paid on June 15, 2023.

What is the record date for the dividend payment for FCNCA?

The record date for the dividend payment is May 31, 2023.

What are the dividend rates for the preferred stocks of FCNCA?

The Series A preferred stock has a fixed rate, while the Series B preferred stock has a non-cumulative cash dividend at a rate of 8.83829%.