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

Rhea-AI Summary

First Republic Bank (NYSE:FRC) has declared cash dividends for its perpetual preferred stocks. A quarterly cash dividend of $12.8125 per share on the Noncumulative Perpetual Series H Preferred Stock will be paid on March 30, 2021, to shareholders of record as of March 16, 2021. Additionally, a $13.75 dividend per share on the Noncumulative Perpetual Series I Preferred Stock is also payable on the same date for shareholders of record as of March 16, 2021. These dividends provide consistent income for shareholders.

Positive

• Quarterly cash dividend of $12.8125 per share on Series H Preferred Stock.
• Quarterly cash dividend of $13.75 per share on Series I Preferred Stock.
• Dividends payable on March 30, 2021, ensuring timely income for investors.

Negative

• None.

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 March 30, 2021, to shareholders of record as of March 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 March 30, 2021, to shareholders of record as of March 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.

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FAQ

What is the dividend amount for First Republic Bank's Series H preferred stock?

The dividend amount for First Republic Bank's Series H preferred stock is $12.8125 per share.

When is the dividend for Series I preferred stock payable for FRC?

The dividend for Series I preferred stock is payable on March 30, 2021.

What is the payment date for First Republic Bank's preferred stock dividends?

The payment date for the preferred stock dividends is March 30, 2021.

Who are the shareholders eligible for the dividends declared by FRC?

Shareholders of record as of March 16, 2021, are eligible for the dividends.