Cadence Bank Declares Quarterly Common and Preferred Dividends

Rhea-AI Summary

On April 26, 2023, Cadence Bank (NYSE: CADE) declared a quarterly cash dividend of $0.235 per share for common stock, payable on July 3, 2023, to shareholders of record by June 15, 2023. Additionally, a preferred stock dividend of $0.34375 per share is scheduled for May 22, 2023, for shareholders of record by May 5, 2023. For Q1 2023, Cadence reported a net income of $74.3 million, or $0.40 per diluted share, with adjusted net income of $124.4 million, or $0.68 per diluted share. With approximately $50 billion in assets and over 350 branches, Cadence continues to offer a comprehensive range of banking services across the South and Texas.

AI-generated analysis. Not financial advice.

Positive

• Declared a quarterly cash dividend of $0.235 per share, enhancing shareholder returns.
• Reported net income of $74.3 million for Q1 2023, indicating strong financial performance.

Negative

• None.

News Market Reaction – CADE

+2.00%

1 alert

+2.00% News Effect

On the day this news was published, CADE gained 2.00%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

TUPELO, Miss. and HOUSTON, April 26, 2023 /PRNewswire/ -- At its meeting today, the board of directors of Cadence Bank (NYSE: CADE) (Cadence) declared a quarterly cash dividend of $0.235 per share of common stock. The common stock dividend is payable on July 3, 2023, to shareholders of record at the close of business on June 15, 2023. 

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 22, 2023, to shareholders of record at the close of business on May 5, 2023.

Cadence earlier reported financial results for the first quarter of 2023. Net income available to common shareholders was $74.3 million, or $0.40 per diluted share, and adjusted net income available to common shareholders was $124.4 million, or $0.68 per diluted share.

About Cadence Bank
Cadence Bank (NYSE: CADE) is a leading regional banking franchise with approximately $50 billion in assets and more than 350 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.

View original content:https://www.prnewswire.com/news-releases/cadence-bank-declares-quarterly-common-and-preferred-dividends-301808832.html

SOURCE Cadence Bank

FAQ

When is the next dividend payment date for Cadence Bank (CADE)?

The next dividend payment date for Cadence Bank is July 3, 2023.

What is the amount of the common stock dividend declared by Cadence Bank?

Cadence Bank declared a common stock dividend of $0.235 per share.

When was the dividend declared by Cadence Bank for Q1 2023?

The dividend was declared on April 26, 2023.

What was Cadence Bank's net income for the first quarter of 2023?

Cadence Bank reported a net income of $74.3 million for Q1 2023.

What is the dividend amount for Cadence Bank's preferred stock?

The dividend amount for Cadence Bank's Series A Preferred Stock is $0.34375 per share.