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

Rhea-AI Summary

First Republic Bank (NYSE:FRC) has declared quarterly cash dividends on its perpetual preferred stock. A dividend of $12.8125 per share for the Noncumulative Perpetual Series H Preferred Stock will be paid on June 30, 2021, to shareholders of record as of June 16, 2021. For the Noncumulative Perpetual Series I Preferred Stock, a dividend of $13.75 per share is also slated for payment on the same date. These dividends highlight First Republic's commitment to shareholder returns.

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 June 30, 2021, indicate strong cash flow.

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 June 30, 2021, to shareholders of record as of June 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 June 30, 2021, to shareholders of record as of June 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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