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

Rhea-AI Summary

Zions Bancorporation has authorized a $50 million share repurchase for Q1 2022, reflecting confidence in shareholder value. Additionally, a quarterly dividend of $0.38 per common share was declared, payable on February 24, 2022, to shareholders of record on February 17, 2022. Cash dividends on preferred shares were also announced, with payments scheduled in March and June 2022. The company reported $2.9 billion in annual net revenue for 2021, highlighting its strong financial position with over $90 billion in total assets.

Positive

• Share repurchase of $50 million enhances shareholder value.
• Quarterly dividend of $0.38 indicates strong financial health.
• Total assets exceed $90 billion, showing robust financial stability.

Negative

• None.

SALT LAKE CITY--(BUSINESS WIRE)-- Zions Bancorporation, N.A. (NASDAQ: ZION) announced today that its board of directors (“board”) authorized a share repurchase for the first quarter of 2022 of up to $50 million.

The board also declared a regular quarterly dividend of $0.38 per common share, payable February 24, 2022 to shareholders of record at the close of business on February 17, 2022.

Additionally, the board declared regular quarterly cash dividends on the company's various perpetual preferred shares, as detailed below.

The cash dividend on the following series are payable March 15, 2022 to shareholders of record on March 1, 2022:

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

The cash dividend on the Series I (CUSIP: 989701BD8) shares is payable on June 15, 2022 to shareholders of record on June 1, 2022.

Zions has obtained the requisite regulatory approval to allow Zions to timely execute on this authorization.

Zions Bancorporation, N.A. is one of the nation's premier financial services companies with annual net revenue of $2.9 billion in 2021 and more than $90 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 tenth largest provider in the U.S. of the SBA’s Paycheck Protection Program 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/20220128005492/en/

James Abbott

Director of Investor Relations

Tel: (801) 844‐7637

Source: Zions Bancorporation, N.A.

FAQ

What is the amount of Zions Bancorporation's share repurchase in Q1 2022?

Zions Bancorporation has authorized a share repurchase of up to $50 million for Q1 2022.

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

The dividend of $0.38 per common share is payable on February 24, 2022, to shareholders of record on February 17, 2022.

What are the cash dividend payment dates for Zions Bancorporation's preferred shares?

Cash dividends on preferred shares are payable on March 15, 2022, and June 15, 2022, for different series.

What was Zions Bancorporation's annual net revenue in 2021?

Zions Bancorporation reported annual net revenue of $2.9 billion in 2021.

How much total assets does Zions Bancorporation have?

Zions Bancorporation has more than $90 billion in total assets.