Cadence Bank Declares Quarterly Common and Preferred Dividends

Rhea-AI Summary

The board of directors of Cadence Bank (NYSE: CADE) declared a quarterly cash dividend of $0.22 per share of common stock, payable on January 3, 2023, to shareholders of record as of December 15, 2022. Additionally, a quarterly dividend of $0.34375 per share of Series A Preferred Stock was announced, payable on November 21, 2022, to shareholders of record by November 4, 2022. Cadence reported a net income of $121.0 million for Q3 2022, equating to $0.66 per diluted share.

Positive

• Declared quarterly cash dividend of $0.22 per share, indicating strong shareholder returns.
• Reported net income available to common shareholders of $121.0 million for Q3 2022.

Negative

• None.

TUPELO, Miss. and HOUSTON, Oct. 26, 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 January 3, 2023, to shareholders of record at the close of business on December 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 November 21, 2022, to shareholders of record at the close of business on November 4, 2022.

Cadence earlier reported financial results for the third quarter of 2022. Net income available to common shareholders was $121.0 million, or $0.66 per diluted share, and adjusted income available to common shareholders was $143.7 million, or $0.78 per diluted share.

About Cadence Bank
Cadence Bank (NYSE: CADE) is a leading regional banking franchise with approximately $50 billion in assets and nearly 400 branch locations across the South 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 for common stock?

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

When is the dividend for Cadence Bank's common stock payable?

The dividend is payable on January 3, 2023.

What was Cadence Bank's net income for Q3 2022?

Cadence Bank reported a net income of $121.0 million for Q3 2022.

When is the preferred stock dividend payable?

The preferred stock dividend is payable on November 21, 2022.