Huntington Bancshares Incorporated Declares Quarterly Cash Dividends On Its Common and Preferred Stocks

Rhea-AI Summary

Huntington Bancshares Incorporated declared a quarterly cash dividend on its common stock of $0.155 per share, unchanged from the prior quarter. The company also declared dividends on six series of its preferred stock, with varying amounts payable on April 15, 2024. The dividends are payable to shareholders of record on specific dates in March and April 2024.

Insights

Financial Analyst

The declaration of a steady quarterly cash dividend on Huntington Bancshares' common stock indicates a consistent return for investors and suggests stable financial health for the company. The maintained dividend rate may signal confidence by the board in the company's current revenue and profit levels. A steady dividend can also be a sign of a mature company with a predictable cash flow.

However, the lack of an increase in the dividend might raise questions about the company's growth prospects and ability to generate excess cash in the future. Investors often view dividend growth as a positive indicator of a company's long-term prospects. Therefore, it's crucial to analyze the company's payout ratio, earnings trend and cash reserves to assess the sustainability of these dividends.

Market Research Analyst

Examining the dividend declarations on the preferred stock series, it's evident that Huntington Bancshares is providing a variety of fixed and floating rate options to investors, catering to different risk preferences. The fixed-to-floating and fixed-rate reset features on some series allow for adjustments in payouts aligned with market interest rates, which could be attractive in a volatile rate environment.

It is important to consider the market demand for such preferred shares, as they often carry different risks and benefits compared to common stock. The yields on these preferred shares may be compared with current market rates to evaluate their attractiveness to potential investors. Additionally, the impact of these dividends on the company's financial leverage should be assessed, as preferred dividends are typically a fixed obligation.

COLUMBUS, Ohio, Jan. 19, 2024 /PRNewswire/ -- Huntington Bancshares Incorporated announced that the Board of Directors declared a quarterly cash dividend on the company's common stock (Nasdaq: HBAN) of $0.155 per common share, unchanged from the prior quarter. The common stock cash dividend is payable on April 1, 2024, to shareholders of record on March 18, 2024.

In addition, the Board declared quarterly cash dividends on six series of its preferred stock.

• A quarterly cash dividend on its Floating Rate Series B Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150500) of $20.6890000 per share (equivalent to $0.5172250 per depositary receipt share).
  
  
• A quarterly cash dividend on its 5.70% Series E Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150AL8) of $2,113.90 per share (equivalent to $21.139 per depositary receipt share).
  
  
• A quarterly cash dividend on its 5.625% Series F Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150AT1) of $1,406.25 per share (equivalent to $14.0625 per depositary share).
  
  
• A quarterly cash dividend on its 4.450% Series G Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150AV6) of $1,112.50 per share (equivalent to $11.1250 per depositary share).
  
  
• A quarterly cash dividend on its 4.5% Series H Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (Nasdaq: HBANP) of $11.25 per share (equivalent to $0.28125 per depositary share).
  
  
• A quarterly cash dividend on its 6.875% Series J Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (Nasdaq: HBANL) of $17.19 per share (equivalent to $0.42975 per depositary share).

All six preferred stock cash dividends are payable on April 15, 2024, to their respective shareholders of record on April 1, 2024.

About Huntington
Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $189 billion asset regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle‐market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Huntington operates approximately 1,000 branches in 11 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.

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SOURCE Huntington Bancshares Incorporated

FAQ

What is the quarterly cash dividend declared on Huntington Bancshares common stock?

The quarterly cash dividend declared on Huntington Bancshares common stock is $0.155 per share.

When is the common stock cash dividend payable?

The common stock cash dividend is payable on April 1, 2024.

What are the amounts of the quarterly cash dividends declared on the six series of preferred stock?

The amounts of the quarterly cash dividends declared on the six series of preferred stock vary, ranging from $11.25 to $2113.90 per share.

When are the preferred stock cash dividends payable?

The preferred stock cash dividends are payable on April 15, 2024.

What is the ticker symbol for Huntington Bancshares common stock?

The ticker symbol for Huntington Bancshares common stock is HBAN.

What is the CUSIP number for the Floating Rate Series B Non-Cumulative Perpetual Preferred Stock?

The CUSIP number for the Floating Rate Series B Non-Cumulative Perpetual Preferred Stock is 446150500.