First Republic Bank Declares Dividends on Two Series of Perpetual Preferred Stock for Third Quarter 2021

Rhea-AI Summary

First Republic Bank (NYSE:FRC) declared cash dividends for its perpetual preferred stock. The quarterly cash dividend for the Noncumulative Perpetual Series H Preferred Stock is $12.8125 per share, equating to $0.3203125 per depositary share, payable on September 30, 2021, with a record date of September 16, 2021.

The Noncumulative Perpetual Series I Preferred Stock will see a dividend of $13.75 per share, or $0.343750 per depositary share, also payable on September 30, 2021.

Positive

• Quarterly cash dividend of $12.8125 per share for Series H Preferred Stock.
• Quarterly cash dividend of $13.75 per share for Series I Preferred Stock.

Negative

• None.

SAN FRANCISCO--(BUSINESS WIRE)-- First Republic Bank (NYSE:FRC), a leading private bank and wealth management company, today announced that it has declared cash dividends on the following outstanding series of its perpetual preferred stock.

A quarterly cash dividend of $12.8125 per share was declared on its Noncumulative Perpetual Series H Preferred Stock. This dividend equals $0.3203125 per depositary share, each representing 1/40^th interest in a share of Series H Preferred Stock, which is traded on the NYSE under the symbol “FRCPrH.” The Series H Preferred Stock dividend is payable on September 30, 2021, to shareholders of record as of September 16, 2021.

A quarterly cash dividend of $13.75 per share was declared on its Noncumulative Perpetual Series I Preferred Stock. This dividend equals $0.343750 per depositary share, each representing 1/40^th interest in a share of Series I Preferred Stock, which is traded on the NYSE under the symbol “FRCPrI.” The Series I Preferred Stock dividend is payable on September 30, 2021, to shareholders of record as of September 16, 2021.

About First Republic Bank

Founded in 1985, First Republic and its subsidiaries offer private banking, private business banking and private wealth management, including investment, trust and brokerage services. First Republic specializes in delivering exceptional, relationship-based service and offers a complete line of products, including residential, commercial and personal loans, deposit services, and wealth management. Services are offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach and San Diego, California; Portland, Oregon; Boston, Massachusetts; Palm Beach, Florida; Greenwich, Connecticut; New York, New York; and Jackson, Wyoming. First Republic is a constituent of the S&P 500 Index and KBW Nasdaq Bank Index. For more information, visit firstrepublic.com.

FRC-F

View source version on businesswire.com: https://www.businesswire.com/news/home/20210902005064/en/

Investors:

Andrew Greenebaum / Lasse Glassen

Addo Investor Relations

agreenebaum@addo.com, lglassen@addo.com

(310) 829-5400

Media:

Greg Berardi

Blue Marlin Partners

gberardi@firstrepublic.com

(415) 239-7826

 

Source: First Republic Bank

FAQ

What is the dividend amount for First Republic Bank's Series H Preferred Stock for Q3 2021?

The dividend amount for Series H Preferred Stock is $12.8125 per share.

When is the payment date for the Series H Preferred Stock dividend?

The payment date for the Series H Preferred Stock dividend is September 30, 2021.

What is the dividend amount for First Republic Bank's Series I Preferred Stock for Q3 2021?

The dividend amount for Series I Preferred Stock is $13.75 per share.

When is the payment date for the Series I Preferred Stock dividend?

The payment date for the Series I Preferred Stock dividend is September 30, 2021.

What is the record date for the dividends declared by First Republic Bank?

The record date for both dividends is September 16, 2021.