Atlantic Union Bankshares Corporation Declares Quarterly Common Stock Dividend and Preferred Stock Dividend
Atlantic Union Bankshares Corporation Declares Quarterly Common Stock Dividend and Preferred Stock Dividend
The Board of Directors of Atlantic Union Bankshares Corporation has declared a quarterly dividend of $0.30 per share of common stock, maintaining the rate from Q4 2022, but reflecting a 7.1% increase from Q1 2022.
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RICHMOND, Va.--(BUSINESS WIRE)--
The Board of Directors (the “Board”) of Atlantic Union Bankshares Corporation (the “Company”) has declared a quarterly dividend of $0.30 per share of common stock, which is the same as the fourth quarter of 2022 and a $0.02, or 7.1%, increase from the first quarter of 2022. Based on the Company’s common stock closing price of $38.04 on January 26, 2023, the dividend yield is approximately 3.2%. The common stock dividend is payable on February 24, 2023 to common shareholders of record as of February 10, 2023.
The Board also declared a quarterly dividend on the outstanding shares of the Company’s 6.875% Perpetual Non-Cumulative Preferred Stock, Series A (the “Series A preferred stock”). The Series A preferred stock is represented by depositary shares, each representing a 1/400th ownership interest in a share of Series A preferred stock. The dividend of $171.88 per share (equivalent to $0.43 per outstanding depositary share) is payable on March 1, 2023 to holders of record as of February 14, 2023.
About Atlantic Union Bankshares Corporation
Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB) is the holding company for Atlantic Union Bank. Atlantic Union Bank has 114 branches and approximately 130 ATMs located throughout Virginia, and in portions of Maryland and North Carolina. Certain non-bank financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment Finance, Inc., which provides equipment financing; Atlantic Union Financial Consultants, LLC, which provides brokerage services; and Union Insurance Group, LLC, which offers various lines of insurance products.
