WesBanco Announces Cash Dividend for Preferred Stockholders
WesBanco's Commitment to Shareholders
WesBanco, Inc. (NASDAQ: WSBC) has declared a quarterly cash dividend that reflects its commitment to delivering value to its investors. This dividend pertains to the Series A Non-Cumulative Perpetual Preferred Stock, boasting a remarkable 6.75% yield, which demonstrates the company’s robust financial stability and dedication to rewarding its shareholders.
Details of the Dividend Announcement
The Board of Directors of WesBanco has officially announced that the cash dividend amounts to $0.421875 per depositary share. This translates to approximately $16.875 for each share of the Series A Preferred Stock that remains outstanding. This dividend is particularly pertinent for the period spanning from mid-May through mid-August, underscoring WesBanco's consistent performance and prudent financial management.
The Payment Timeline
This cash dividend will be payable on August 15, and eligible shareholders must be on record by August 1 to receive it. This timeline allows investors to plan accordingly while reinforcing WesBanco’s continuous support for its shareholders.
About WesBanco, Inc.
WesBanco, Inc. has a history that spans over 150 years, positioning itself as a solid, community-focused financial partner. Headquartered in Wheeling, West Virginia, the financial institution has cultivated deep ties across a nine-state footprint. Its range of services extends beyond traditional banking solutions to include trust, brokerage, wealth management, and insurance services, all designed to empower customers on their financial journeys.
Strength in Services
With total assets reaching approximately $27.4 billion, WesBanco prides itself on its ability to harness big bank capabilities while maintaining a local focus. This balance ensures that communities benefit as the bank helps individuals and businesses thrive. The company’s Trust and Investment Services holds about $7.0 billion in assets under management, indicative of its expertise in wealth management. Furthermore, WesBanco’s broker/dealer manages securities account values totaling around $2.4 billion.
Engaging with WesBanco
WesBanco encourages connection and engagement with its community. Interested individuals can explore more about the bank’s services, community involvement, and financial insights by visiting their official website and following them on various social media platforms like Facebook, LinkedIn, and Instagram.
Frequently Asked Questions
What is the cash dividend amount declared by WesBanco?
The declared cash dividend is $0.421875 per depositary share, equating to $16.875 for each share of the Series A Preferred Stock.
When will the dividend be payable?
The cash dividend will be payable on August 15 to shareholders on record by August 1.
What type of stock does the dividend pertain to?
This dividend pertains to WesBanco's 6.75% Non-Cumulative Perpetual Preferred Stock, Series A.
How long has WesBanco been in operation?
WesBanco has been providing financial services for over 150 years, establishing itself as a trusted community partner.
What services does WesBanco offer beyond banking?
In addition to retail and commercial banking, WesBanco offers trust, brokerage, wealth management, and insurance services to support its customers' diverse financial needs.
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