Athene Holding Ltd. Declares Third Quarter 2024 Preferred Stock Dividends

Rhea-AI Summary

Athene Holding has declared preferred stock dividends for the third quarter of 2024, payable on September 30, 2024, to holders of record as of September 15, 2024. The dividends are for five series of non-cumulative preferred stock:

• Series A: $396.875 per share (6.35% Fixed-to-Floating Rate)
• Series B: $351.5625 per share (5.625% Fixed-Rate)
• Series C: $398.4375 per share (6.375% Fixed-Rate Reset)
• Series D: $304.6875 per share (4.875% Fixed-Rate)
• Series E: $484.375 per share (7.750% Fixed-Rate Reset)

Depositary shares for each series are listed on the NYSE under ticker symbols ATHPrA, ATHPrB, ATHPrC, ATHPrD, and ATHPrE respectively.

Positive

• Consistent dividend payments across all five preferred stock series
• Diverse range of preferred stock options with varying rates and structures

Negative

• None.

Insights

Financial Analyst

Athene Holding's declaration of preferred stock dividends is a routine financial event, indicating the company's commitment to its preferred shareholders. The consistent quarterly payouts across five different series of preferred stock suggest financial stability and the ability to meet obligations. However, it's important to note that these are non-cumulative preferred stocks, meaning unpaid dividends don't accumulate if skipped.

The varying dividend rates, ranging from 4.875% to 7.750%, reflect different risk-return profiles and market conditions at the time of issuance. The higher-yielding Series E (7.750%) might have been issued during a period of higher interest rates or increased market volatility. For investors, these preferred stocks offer a steady income stream with priority over common stockholders, but without the potential for capital appreciation that common shares provide.

Market Research Analyst

The announcement of preferred stock dividends by Athene Holding is a neutral event for the market, as it meets expected obligations without indicating significant changes in the company's financial position. However, it's worth noting the diverse range of preferred stock offerings, which cater to different investor preferences and risk appetites.

The fixed-to-floating and fixed-rate reset features in some series (A and C) provide flexibility in changing interest rate environments, potentially attracting investors concerned about rate fluctuations. The listing on NYSE for all series ensures liquidity for investors. From a market perspective, the continued issuance and maintenance of these diverse preferred stock series suggest Athene's active capital management strategy and its ability to access various funding sources, which could be viewed positively by market participants.

WEST DES MOINES, Iowa, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Athene Holding Ltd. (“Athene”) announced that it has declared the following preferred stock dividends on its non-cumulative preferred stock (represented by depositary shares, each representing a 1/1,000th interest in a share of preferred stock), payable on September 30, 2024 to holders of record as of September 15, 2024.

• Quarterly dividend of $396.875 per share on the company’s 6.35% Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series A (the “Series A Preferred Stock”); holders of depositary shares will receive $0.396875 per depositary share.
• Quarterly dividend of $351.5625 per share on the company’s 5.625% Fixed-Rate Perpetual Non-Cumulative Preferred Stock, Series B (the “Series B Preferred Stock”); holders of depositary shares will receive $0.3515625 per depositary share.
• Quarterly dividend of $398.4375 per share on the company’s 6.375% Fixed-Rate Reset Perpetual Non-Cumulative Preferred Stock, Series C (the “Series C Preferred Stock”); holders of depositary shares will receive $0.3984375 per depositary share.
• Quarterly dividend of $304.6875 per share on the company’s 4.875% Fixed-Rate Perpetual Non-Cumulative Preferred Stock, Series D (the “Series D Preferred Stock”); holders of depositary shares will receive $0.3046875 per depositary share.
• Quarterly dividend of $484.375 per share on the company’s 7.750% Fixed-Rate Reset Perpetual Non-Cumulative Preferred Stock, Series E (the “Series E Preferred Stock”); holders of depositary shares will receive $0.484375 per depositary share.
  

Depositary shares for the Series A Preferred Stock are listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “ATHPrA,” depositary shares for the Series B Preferred Stock are listed on the NYSE under the ticker symbol “ATHPrB,” depositary shares for the Series C Preferred Stock are listed on the NYSE under the ticker symbol “ATHPrC,” depositary shares for the Series D Preferred Stock are listed on the NYSE under the ticker symbol “ATHPrD,” and depositary shares for the Series E Preferred Stock are listed on the NYSE under the ticker symbol “ATHPrE.”

About Athene
Athene is a leading retirement services company with $330 billion of total assets as of June 30, 2024, and operations in the United States, Bermuda, Canada, and Japan. Athene is focused on providing financial security to individuals by offering an attractive suite of retirement income and savings products and also serves as a solutions provider to corporations. For more information, please visit www.athene.com.

Contact:

Jeanne Hess
VP, External Relations
+1 646 768 7319
jeanne.hess@athene.com

FAQ

When will Athene Holding (ATH) pay its Q3 2024 preferred stock dividends?

Athene Holding will pay its third quarter 2024 preferred stock dividends on September 30, 2024, to holders of record as of September 15, 2024.

What is the dividend amount for Athene's Series A Preferred Stock (ATHPrA) in Q3 2024?

The quarterly dividend for Athene's Series A Preferred Stock (ATHPrA) is $396.875 per share, or $0.396875 per depositary share.

Which of Athene's preferred stock series offers the highest dividend rate in Q3 2024?

Athene's Series E Preferred Stock (ATHPrE) offers the highest dividend rate at 7.750%, with a quarterly dividend of $484.375 per share or $0.484375 per depositary share.

How many preferred stock series does Athene Holding (ATH) have?

Athene Holding has five preferred stock series: Series A, B, C, D, and E, each with different rates and structures.