Truist Declares Common and Preferred Stock Dividends

Rhea-AI Summary

The Board of Directors of Truist Financial Corporation (NYSE: TFC) announced a regular quarterly cash dividend of $0.52 per common share, payable on June 1, 2023. Shareholders must be on record by the close of business on May 12, 2023.

Dividends were also declared for various preferred stocks, including the Series I, J, L, M, O, P, and R, with payment dates generally set for June 15, 2023 or June 1, 2023 for specific series. The total asset value of Truist was $574 billion as of March 31, 2023.

Positive

• Quarterly cash dividend of $0.52 per common share provides consistent income for shareholders.
• Total assets of $574 billion signify strong financial positioning.

Negative

• None.

CHARLOTTE, N.C., April 25, 2023 /PRNewswire/ -- The Board of Directors of Truist Financial Corporation (NYSE: TFC) declared a regular quarterly cash dividend of $0.52 per common share, payable on June 1, 2023, to shareholders of record at the close of business on May 12, 2023.

The Board also declared regular cash dividends on the following series of preferred stock:

Series of Preferred Stock	Dividend per Share	Dividend per Depositary Share	Record Date	Payment Date
Series I Non-Cumulative Perpetual Preferred Stock (CUSIP 89832Q810)	$1,379.05189(1)	$0.34476(1)	May 12	June 15
Series J Non-Cumulative Perpetual Preferred Stock (CUSIP 86800XAA6)	$1,408.44078(1)	$14.08441(1)	May 12(2)	June 15
Series L Non-Cumulative Perpetual Preferred Stock (CUSIP 89832QAB5)	$2,036.34078(1)	$20.36341(1)	May 12	June 15
Series M Non-Cumulative Perpetual Preferred Stock (CUSIP 89832QAC3)	$2,562.50	$25.625	May 12	June 15(3)
Series O Non-Cumulative Perpetual Preferred Stock (CUSIP 89832Q745)	$328.125	$0.328125	May 12	June 1
Series P Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock (CUSIP 89832QAE9)	$618.75	$24.75	May 12	June 1(3)
Series R Non-Cumulative Perpetual Preferred Stock (CUSIP 89832Q695)	$296.875	$0.296875	May 12	June 1

Notes:
(1)	In the table, dividends per share and dividends per depositary share for Series I, Series J, and Series L are rounded to the hundred-thousandths position for the convenience of the reader.  Rounded to the fourteenth decimal place, the dividend per share and dividend per depositary share for Series I are $1,379.05188888888889 and $0.34476297222222, respectively. Rounded to the fourteenth decimal place, the dividend per share and dividend per depositary share for Series J are $1,408.44077777777778 and $14.08440777777778, respectively.  Rounded to the fourteenth decimal place, the dividend per share and dividend per depositary share for Series L are $2,036.34077777777778 and $20.36340777777778, respectively.
(2)	In accordance with the Amended and Restated Declaration of Trust of SunTrust Preferred Capital I, the record date for the Preferred Purchase Securities representing fractional interests in shares of Series J preferred stock will be May 31, 2023.
(3)	Dividends per share and dividends per depositary share for Series M and Series P are declared and paid semiannually.

 

About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country, and offers a wide range of products and services through our retail and small business banking, commercial banking, corporate and investment banking, insurance, wealth management, and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $574 billion as of March 31, 2023. Truist Bank, Member FDIC. Learn more at Truist.com.

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SOURCE Truist Financial Corporation

FAQ

What is the dividend amount declared by Truist Financial Corporation?

Truist Financial Corporation declared a quarterly cash dividend of $0.52 per common share.

When is the payment date for the common stock dividend?

The common stock dividend is payable on June 1, 2023.

What is the record date for the common stock dividend?

The record date for the common stock dividend is May 12, 2023.

What are the dividend details for preferred stock of Truist?

Preferred stock dividends were declared for Series I, J, L, M, O, P, and R, with payment dates mainly on June 15, 2023.

What was the total asset value of Truist Financial Corporation?

As of March 31, 2023, Truist Financial Corporation had total assets of $574 billion.