Huntington Bancshares Incorporated Announces Increase to Quarterly Cash Dividend on its Common Stock and Declares Quarterly Cash Dividends on its Preferred Stocks

Rhea-AI Summary

Huntington Bancshares announced a quarterly cash dividend of $0.155 per common share, reflecting a 3% increase from the previous quarter. The dividend, payable on January 3, 2022, benefits shareholders on record by December 17, 2021. Additionally, quarterly dividends were declared for five series of preferred stock, with the highest being $1,425.00 per share for Series E. These dividends are payable on January 18, 2022. The increase in dividend supports the capital allocation strategy and showcases confidence in future growth.

Positive

• 3% increase in common stock dividend to $0.155, indicating strong capital levels.
• Commitment to return capital to shareholders via increased dividends and share repurchases.

Negative

• None.

News Market Reaction

+1.15%

1 alert

+1.15% News Effect

On the day this news was published, HBAN gained 1.15%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

COLUMBUS, Ohio, Oct. 22, 2021 /PRNewswire/ -- Huntington Bancshares Incorporated (www.huntington.com) announced that the Board of Directors declared a quarterly cash dividend on the company's common stock (Nasdaq: HBAN) of $0.155 per common share, up $0.005, or 3%, from the prior quarter.  The common stock cash dividend is payable on January 3, 2022, to shareholders of record on December 17, 2021.

"The Board is pleased to announce an increase to our common stock dividend as part of our capital allocation strategy," said Steve Steinour, chairman, president, and CEO. "The dividend increase, coupled with our share repurchase authorization, reflects our confidence in the outlook for Huntington as well as our strong capital levels upon completion of the TCF acquisition.  We remain committed to our stated capital priorities including funding organic growth, growing the dividend over time, and other uses of capital including share repurchases."

In addition, the Board declared quarterly cash dividends on five series of its preferred stock.  The Board declared a quarterly cash dividend on its Floating Rate Series B Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150500) of $7.05937324 per share (equivalent to $0.1764843 per depositary receipt share).  The Board declared a quarterly cash dividend on its 5.70% Series E Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150AL8) of $1,425.00 per share (equivalent to $14.25 per depositary receipt share).  The Board declared a quarterly cash dividend on its 5.625% Series F Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150AT1) of $1,406.25 per share (equivalent to $14.0625 per depositary share).  The Board declared a quarterly cash dividend on its 4.450% Series G Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150AV6) of $1,112.50 per share (equivalent to $11.1250 per depositary share).  Finally, the Board declared a quarterly cash dividend on its 4.5% Series H Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (Nasdaq: HBANP) of $11.25 per share (equivalent to $0.28125 per depositary share).  All five preferred stock cash dividends are payable on January 18, 2022, to their respective shareholders of record on January 1, 2022.

About Huntington

Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $175 billion asset regional bank holding company headquartered in Columbus, Ohio.  Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle–market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services.  Huntington operates more than 1,100 branches in 12 states, with certain businesses operating in extended geographies.  Visit Huntington.com for more information.

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SOURCE Huntington Bancshares Inc.

FAQ

What is the dividend amount for Huntington Bancshares common stock (HBAN)?

The dividend for Huntington Bancshares common stock (HBAN) is $0.155 per share.

When is the dividend payment date for Huntington Bancshares common stock (HBAN)?

The dividend payment date for Huntington Bancshares common stock (HBAN) is January 3, 2022.

What dividends were declared for Huntington Bancshares preferred stock (HBANP)?

Dividends declared for preferred stock (HBANP) include $11.25 per share for Series H, payable on January 18, 2022.

What is the frequency of dividends for Huntington Bancshares (HBAN, HBANP)?

Huntington Bancshares pays dividends quarterly for both common and preferred stock.

How does the recent dividend increase impact Huntington Bancshares investors?

The dividend increase reflects the company's strong financial health and commitment to returning value to shareholders.