Truist Declares Common and Preferred Stock Dividends

Rhea-AI Summary

Truist Financial Corporation (NYSE: TFC) announced a regular quarterly cash dividend of $0.45 per common share, payable on September 1, 2020. Shareholders of record on August 14, 2020 will receive this dividend. Additionally, dividends were declared for several preferred stock series, with payment dates also set for September 1. Key preferred stock dividends include Series F and Series G at $325.00 each, along with Series I and Series J at $1,022.22222. This announcement reflects Truist's ongoing commitment to returning value to shareholders.

Positive

• Declared a quarterly cash dividend of $0.45 per common share, demonstrating strong shareholder return.
• Preferred stock dividends show consistent income for preferred shareholders.

Negative

• None.

CHARLOTTE, N.C., July 28, 2020 /PRNewswire/ -- The Board of Directors of Truist Financial Corporation (NYSE: TFC) declared a regular quarterly cash dividend of $0.45 per common share, payable on September 1, 2020, to shareholders of record at the close of business on August 14, 2020.

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
Non-Cumulative Perpetual Preferred Stock, Series F (CUSIP 89832Q851)	$325.00	$0.325	August 14	September 1
Non-Cumulative Perpetual Preferred Stock, Series G (CUSIP 89832Q844)	$325.00	$0.325	August 14	September 1
Non-Cumulative Perpetual Preferred Stock, Series H (CUSIP 89832Q836)	$351.5625	$0.3515625	August 14	September 1
Non-Cumulative Perpetual Preferred Stock, Series I (CUSIP 89832Q810)	$1,022.22222(1)	$0.25556(1)	August 14	September 15
Non-Cumulative Perpetual Preferred Stock, Series J (CUSIP 86800XAA6)	$1,022.22222(1)	$10.22222(1)	August 14(2)	September 15
Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series N (CUSIP 89832QAD1)	$600.00	$24.00	August 14	September 1(3)
Non-Cumulative Perpetual Preferred Stock, Series O (CUSIP 89832Q745)	$342.70833(4)	$0.34271(4)	August 14	September 1

Notes:

(1)  Dividends per share and dividends per depositary share for Series I and J shown in the table are rounded to the hundred-thousandths position for the convenience of the reader.  The unrounded dividend per share and dividend per depositary share for Series I are $1,022.22222222222222 and $0.25555555555556, respectively.  The unrounded dividend per share and dividend per depositary share for Series J are $1,022.22222222222222 and $10.22222222222222, 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 August 31, 2020.

(3)  Dividends per share and dividends per depositary share for Series N are declared and paid semiannually.

(4)  The dividend per share and dividend per depositary share for Series O shown in the table reflect the long initial dividend period that commenced on, and included, the original issue date and will end on, and exclude, the September 1, 2020, dividend payment date.  The dividend per share and dividend per depositary share for Series O shown in the table are rounded to the hundred-thousandths position for the convenience of the reader.  During a normalized dividend period that extends from, and includes, a dividend payment date to, but excludes, the next dividend payment date, the dividend per share and dividend per depositary share for Series O would be $328.125 per share and $0.328125 per depositary share, respectively.

About Truist

Truist Financial Corporation is a purpose-driven financial services company committed to inspire and build better lives and communities. With 275 years of combined BB&T and SunTrust history, Truist serves approximately 12 million households with leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is the sixth-largest commercial bank in the U.S. with total assets of $504 billion as of June 30, 2020. 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 on July 28, 2020?

Truist Financial declared a cash dividend of $0.45 per common share.

When is the dividend payment date for Truist Financial's common shares?

The dividend payment date for common shares is September 1, 2020.

What are the record dates for the declared dividends?

The record date for the dividends is August 14, 2020.

What preferred stocks received dividends from Truist Financial?

Dividends were declared for Series F, Series G, Series H, Series I, Series J, Series N, and Series O preferred stocks.

What is the dividend payment date for Truist's preferred stocks?

The payment date for the preferred stocks is primarily September 1, 2020, with some exceptions.