Atlantic Union Bankshares Corporation Increases Dividend Efficiency
Atlantic Union Bankshares Corporation Quarterly Dividend Announcement
In a move signaling financial strength, the Board of Directors of Atlantic Union Bankshares Corporation has officially announced a quarterly common stock dividend of $0.34 per share. This announcement matches the dividend declared in the fourth quarter of the previous year while also representing an increase of $0.02—or roughly 6%—over the amount issued in the earlier quarter of the same fiscal year.
Understanding the Dividend Yield
Based on a recent closing price of $37.41 for Atlantic Union Bankshares Corporation's common stock, the newly declared dividend translates to an approximate yield of 3.6%. This yield illustrates the company's commitment to providing value to its shareholders through consistent dividend payments.
Timing and Payment Details
Shareholders can expect to receive the dividend on February 28, 2025, provided they are recorded as common shareholders by February 14, 2025. This systematic approach to dividend declarations reflects the company's sound financial practices and highlights its dedication to shareholder returns.
Preferred Stock Dividend Declaration
In addition to the common stock dividend, Atlantic Union Bankshares Corporation will also be issuing a quarterly dividend on its 6.875% Perpetual Non-Cumulative Preferred Stock, Series A. Each depositary share represents a 1/400th interest in a share of Series A preferred stock, with each share entitled to a dividend of $171.88. This amount converts to $0.43 per outstanding depositary share.
Preferred Stock Payment Schedule
The dividends on the Series A preferred stock are scheduled to be paid on March 3, 2025, to all holders of records as of February 14, 2025. This clear structure in the dividend issuance further enhances confidence in the Company's financial stability and long-term growth potential.
About Atlantic Union Bankshares Corporation
Located in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB) functions as the holding entity for Atlantic Union Bank. As of the end of the previous year, Atlantic Union Bank boasted a robust network of 129 branches, serving customers across Virginia and select areas of Maryland and North Carolina.
Complementary Financial Services
Alongside its banking operations, Atlantic Union provides a range of financial services through its non-bank financial affiliates. These include Atlantic Union Equipment Finance, Inc. for equipment financing, Atlantic Union Financial Consultants, LLC for brokerage services, and Union Insurance Group, LLC, which covers various insurance products. Each arm of the company works in tandem to offer comprehensive financial solutions to its clientele.
Conclusion
Atlantic Union Bankshares Corporation continues to demonstrate its strong commitment to its shareholders through consistent dividend payments, while also striving to enhance its services to accommodate diverse financial needs. The recent announcements regarding the dividends reflect not just a financial strategy but also a dedication to fostering long-term relationships with its investors.
Frequently Asked Questions
What is the announced dividend amount for common stock?
The announced dividend for common stock is $0.34 per share.
When will the common stock dividend be paid?
The payment date for the common stock dividend is February 28, 2025.
What is the dividend yield for Atlantic Union Bankshares Corporation?
The dividend yield is approximately 3.6%, based on the closing stock price of $37.41.
What is the dividend amount for the preferred stock?
The dividend for the preferred stock is $171.88 per share, which equates to $0.43 per depositary share.
When will the preferred stock dividend be paid?
The preferred stock dividend payment date is March 3, 2025.
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