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First Republic Bank Declares Dividends on Two Series of Perpetual Preferred Stock for Third 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 quarterly cash dividend of $12.8125 per share is set for the Noncumulative Perpetual Series H Preferred Stock, equating to $0.3203125 per depositary share, payable on September 30, 2022, to shareholders of record as of September 16, 2022. Meanwhile, the Noncumulative Perpetual Series I Preferred Stock will receive a quarterly cash dividend of $13.75 per share, or $0.34375 per depositary share, also payable on September 30, 2022.
Positive
Declaring a quarterly cash dividend of $12.8125 per share for Series H Preferred Stock, indicating strong cash flow.
Announcing a quarterly cash dividend of $13.75 per share for Series I Preferred Stock, showcasing shareholder returns.
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 September 30, 2022, to shareholders of record as of September 16, 2022.
A quarterly cash dividend of $13.75 per share was declared on its Noncumulative Perpetual Series I Preferred Stock. This dividend equals $0.34375 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 September 30, 2022, to shareholders of record as of September 16, 2022.
About First Republic Bank
Founded in 1985, First Republic and its subsidiaries offer private banking, private business banking and private wealth management. First Republic specializes in delivering exceptional, relationship-based service and provides a complete line of products, including residential, commercial and personal loans, deposit services, and private wealth management, including investment, brokerage, insurance, trust and foreign exchange services. 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; Jackson, Wyoming; and Bellevue, Washington. First Republic is a constituent of the S&P 500 Index and KBW Nasdaq Bank Index. For more information, visit firstrepublic.com.
