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First Republic Bank Declares Dividends on Two Series of Perpetual Preferred Stock for First Quarter 2022
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
First Republic Bank (NYSE:FRC) has declared cash dividends for its preferred stock series. A $12.8125 quarterly cash dividend per share has been announced for the Noncumulative Perpetual Series H Preferred Stock, equating to $0.3203125 per depositary share, payable on March 30, 2022, to shareholders of record as of March 16, 2022. Additionally, a quarterly cash dividend of $13.75 per share has been declared for the Noncumulative Perpetual Series I Preferred Stock, equal to $0.343750 per depositary share, also payable on March 30, 2022.
Positive
Quarterly cash dividend of $12.8125 per share on Series H preferred stock enhances shareholder income.
Quarterly cash dividend of $13.75 per share on Series I preferred stock indicates company confidence.
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 1/40th 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, 2022, to shareholders of record as of March 16, 2022.
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 1/40th 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, 2022, to shareholders of record as of March 16, 2022.
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.
