First Citizens BancShares Declares Dividend on Series ‘A’ Preferred Stock

Rhea-AI Summary

First Citizens BancShares (Nasdaq: FCNCA) announced a quarterly dividend on its 5.375% non-cumulative perpetual preferred stock, Series A, amounting to $0.134375 per depositary share. The dividend will be paid on September 15, 2021, to shareholders on record as of August 31, 2021. A total of 345,000 shares are currently outstanding under a Deposit Agreement issued in 2020, with each depositary share representing a 1/40th interest in a Series A preferred stock share.

Positive

• Quarterly dividend of $0.134375 per share enhances income for shareholders.
• Demonstrates company confidence in maintaining dividend payments.

Negative

• None.

RALEIGH, N.C., July 27, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of First Citizens BancShares Inc. (Nasdaq: FCNCA) declared a regular quarterly dividend on the company’s 5.375% non-cumulative perpetual preferred stock, Series A, to be paid on Sept. 15, 2021, to holders of record as of Aug. 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’ website at firstcitizens.com.

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

 

FAQ

When is the next dividend payment for FCNCA?

The next dividend payment for FCNCA will be on September 15, 2021.

What is the dividend amount for First Citizens BancShares?

The declared dividend amount is $0.134375 per depositary share.

What is the record date for the dividend payment?

The record date for the dividend payment is August 31, 2021.

How many shares are outstanding for FCNCA's Series A preferred stock?

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