Zions Bancorporation Board Approves Share Repurchase and Declares Dividends on Common and Preferred Stock

Rhea-AI Summary

Zions Bancorporation (NASDAQ: ZION) has authorized a common stock repurchase of up to $50 million for Q1 2021. Additionally, the board declared a quarterly dividend of $0.34 per common share, payable on February 25, 2021, to shareholders of record by February 18, 2021. Cash dividends are also set for perpetual preferred shares, with payments scheduled on March 15, 2021, and June 15, 2021. Zions reported $2.8 billion in revenue for 2020 and operates across 11 western states, emphasizing its strong market position.

Positive

• Share repurchase of up to $50 million boosts shareholder value.
• Quarterly dividend of $0.34 enhances investor confidence.
• Strong revenue of $2.8 billion in 2020 reflects solid financial performance.

Negative

• None.

Zions Bancorporation, N.A. (NASDAQ: ZION) announced today that its board of directors authorized a common stock share repurchase for the first quarter of 2021 of up to $50 million.

The Zions board of directors also declared a regular quarterly dividend of $0.34 per common share, payable February 25, 2021 to shareholders of record at the close of business on February 18, 2021.

In addition to these actions, the Zions board of directors declared regular quarterly cash dividends on the company's perpetual preferred shares.

The cash dividend on the following series are payable March 15, 2021 to shareholders of record on March 1, 2021:

• Series A (NASDAQ: ZIONP; CUSIP: 98973A104);
• Series G (NASDAQ: ZIONO; CUSIP: 989701859);
• Series H (NASDAQ: ZIONN; CUSIP: 989701834); and
• Series J (CUSIP: 989701BF3)

The cash dividend on the Series I (CUSIP: 989701BD8) shares is payable on June 15, 2021 to shareholders of record on June 1, 2021.

Zions Bancorporation, N.A. is one of the nation's premier financial services companies with annual net revenue of $2.8 billion in 2020 and more than $80 billion of total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. The Bank is a consistent recipient of national and state-wide customer survey awards in small and middle-market banking, as well as a leader in public finance advisory services and Small Business Administration lending, ranking as the 9th largest provider in the U.S. of the SBA’s Paycheck Protection Program (in 2020) loans. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at zionsbancorporation.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210205005459/en/

FAQ

What is the stock buyback amount authorized by Zions Bancorporation for Q1 2021?

Zions Bancorporation has authorized a stock buyback of up to $50 million for Q1 2021.

When is the dividend payment date for Zions Bancorporation's common shares?

The dividend payment date for Zions Bancorporation's common shares is February 25, 2021.

What is the dividend amount declared per common share by Zions Bancorporation?

The declared dividend amount per common share is $0.34.

What is the total revenue reported by Zions Bancorporation for 2020?

Zions Bancorporation reported total revenue of $2.8 billion for 2020.