Cadence Bank Declares Quarterly Common and Preferred Dividends

Rhea-AI Summary

Cadence Bank (NYSE: CADE) declared a quarterly cash dividend of $0.22 per share of common stock, payable on July 1, 2022, for shareholders of record by June 15, 2022. Additionally, a cash dividend of $0.34375 per share for Series A Preferred Stock is set for May 20, 2022, to shareholders of record by May 5, 2022. For Q1 2022, net income available to common shareholders was $112.6 million, equating to $0.60 per diluted share, with adjusted income at $121.6 million or $0.65 per diluted share.

Positive

• Quarterly common stock dividend of $0.22 enhances shareholder value.
• Robust Q1 2022 net income of $112.6 million reflects strong financial performance.
• Adjusted income available to common shareholders at $121.6 million demonstrates consistent profitability.

Negative

• None.

TUPELO, Miss. and HOUSTON, April 27, 2022 /PRNewswire/ -- At its regular quarterly meeting today, the Board of Directors of Cadence Bank (NYSE: CADE) (Cadence) declared a quarterly cash dividend of $0.22 per share of common stock. The common stock dividend is payable on July 1, 2022, to shareholders of record at the close of business on June 15, 2022.  

The board of directors also declared a quarterly cash dividend of $0.34375 per share of Series A Preferred Stock. The preferred stock dividend is payable on May 20, 2022, to shareholders of record at the close of business on May 5, 2022.

Cadence earlier reported financial results for the first quarter of 2022. Net income available to common shareholders was $112.6 million, or $0.60 per diluted share, and adjusted income available to common shareholders was $121.6 million, or $0.65 per diluted share.

About Cadence Bank
Cadence Bank (NYSE: CADE) is a leading regional banking franchise with approximately $47 billion in assets and more than 400 branch locations across the South, Midwest and Texas. Cadence provides consumers, businesses and corporations with a full range of innovative banking and financial solutions. Services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, and personal and business insurance. Cadence is committed to a culture of respect, diversity and inclusion in both its workplace and communities. Cadence Bank, Member FDIC. Equal Housing Lender.

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SOURCE Cadence Bank

FAQ

What is the dividend amount declared by Cadence Bank (CADE) for Q2 2022?

Cadence Bank declared a quarterly cash dividend of $0.22 per share of common stock.

When will Cadence Bank's common stock dividend be paid?

The common stock dividend will be paid on July 1, 2022.

What is the record date for Cadence Bank's common stock dividend?

The record date for the common stock dividend is June 15, 2022.

What are the dividend details for Cadence Bank's Series A Preferred Stock?

Cadence Bank declared a cash dividend of $0.34375 per share for Series A Preferred Stock, payable on May 20, 2022.

What was Cadence Bank's net income for Q1 2022?

Cadence Bank reported a net income of $112.6 million for Q1 2022.