Discover Regions Financial Corporation's Exciting Dividend Increase and Preferred Share Payouts for Q4 2023
The Regions Financial Corporation (NYSE: RF), a leading financial services company, has made a noteworthy announcement regarding its dividends. The Board of Directors recently voted to increase its quarterly common dividend, signaling positive growth and financial strength. In addition, cash dividends have been declared on the company's preferred shares. This decision is expected to delight shareholders and investors, reflecting the company's commitment to rewarding its stakeholders.
One of the key highlights of the recent announcement is the substantial increase in the company's quarterly common dividend. The Board of Directors has approved a cash dividend of $0.24 on each share of outstanding common stock of the Company. This dividend is scheduled to be paid on October 2, 2023, to stockholders of record as of September 1, 2023. Notably, this dividend of $0.24 represents a remarkable 20% increase compared to Regions' previous quarterly common dividend, signifying the company's confidence in its financial outlook.
In addition to the increase in the common dividend, Regions Financial Corporation has also declared cash dividends on its various series of preferred shares. These dividends are set to be paid out over the next three months, offering attractive returns to investors. The specific details of the dividends on preferred shares are as follows:
A cash dividend of $15.9375 per share, equivalent to approximately $0.398438 per depositary share, is payable on September 15, 2023. This payment will be made to stockholders of record as of September 1, 2023.
Stockholders of Series C Preferred Stock can look forward to a cash dividend of $14.25 per share, equivalent to approximately $0.35625 per depositary share. This dividend will be distributed on August 15, 2023, to shareholders of record as of August 1, 2023.
A substantial cash dividend of $1,437.50 per share, or approximately $14.375 per depositary share, will be paid to stockholders on September 15, 2023. Investors must be on the record as of September 1, 2023, to be eligible for this dividend.
Stockholders of Series E Preferred Stock will receive a cash dividend of $11.125 per share, equivalent to approximately $0.278125 per depositary share, on September 15, 2023. To be eligible for this dividend, investors must be on the record as of September 1, 2023.
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