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Northern Trust Declares Quarterly Dividends on Common and Preferred Stock
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
Northern Trust Corporation (Nasdaq: NTRS) has declared a quarterly cash dividend of $0.70 per share, payable on January 1, 2022, to shareholders of record by 5:00 p.m. on December 10, 2021. Additionally, a cash dividend of $293.75 per share for its Series E preferred stock will be paid on the same date to record holders by 5:00 p.m. on December 15, 2021. The company also announced a new stock repurchase authorization of up to 25 million shares, replacing the previous authorization from July 2018.
Positive
Declared a quarterly cash dividend of $0.70 per share.
Total dividend payment reinforces shareholder income confidence.
Authorized stock repurchase of up to 25 million shares, potentially enhancing shareholder value.
Negative
None.
CHICAGO--(BUSINESS WIRE)--
Northern Trust Corporation (Nasdaq: NTRS), holding company of The Northern Trust Company, has declared a quarterly cash dividend of $0.70 per share on its common stock ($1.66-2/3 par value), payable on January 1, 2022, to holders of record at 5:00 p.m., Chicago time, on December 10, 2021. Northern Trust Corporation also declared cash dividends of $293.75 per share of its Series E non-cumulative perpetual preferred stock (resulting in a distribution of $0.29375 per depositary share), payable on January 1, 2022, to holders of record at 5:00 p.m., Chicago time, on December 15, 2021.
Northern Trust also announced that its Board of Directors has approved a new common stock repurchase authorization of up to 25 million shares. The new repurchase authorization replaces the authorization approved in July 2018. The timing and amount of shares repurchased under the new repurchase authorization will depend on various factors, including, but not limited to, Northern Trust's business plans, financial performance, other investment opportunities and general market conditions, including share price.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2021, Northern Trust had assets under custody/administration of US$15.7 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.
