Old National Bancorp Announces Increases to Quarterly Common Stock Dividend and Share Repurchase Program
Old National Bancorp Announces Increases to Quarterly Common Stock Dividend and Share Repurchase Program
Old National Bancorp (NASDAQ:ONB) increased its quarterly common dividend by 3.6% to $0.145 per share, payable March 16, 2026 to holders of record as of March 5, 2026.
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Old National Bancorp (NASDAQ:ONB) increased its quarterly common dividend by 3.6% to $0.145 per share, payable March 16, 2026 to holders of record as of March 5, 2026. The Board also declared preferred dividends of $17.50 per share for Series A and C, payable May 20, 2026.
The Board approved doubling the share repurchase program to $400 million, replacing the prior $200 million program and running through February 28, 2027; repurchases may occur on the open market or via negotiated transactions.
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Positive
Common dividend increased 3.6% to $0.145 per share
Preferred dividends declared at $17.50 per share for Series A and C
Share repurchase authorization doubled to $400 million
Repurchase program effective through Feb 28, 2027
Negative
Common dividend rise was modest at 3.6%
Repurchases may reduce available capital or liquidity
"approved doubling the size of its share repurchase program, authorizing the Company"
A share repurchase program is when a company buys back its own shares from the marketplace. This reduces the total number of shares available, which can increase the value of each remaining share and signal confidence in the company's prospects. For investors, it often suggests that the company believes its stock is undervalued or that it has extra cash to return to shareholders.
depositary sharefinancial
"equivalent to $0.4375 per depositary share or 1/40th interest per share"
A depositary share is a special type of stock that represents ownership in a company but is traded on the stock market like regular shares. It often makes it easier for people to buy and sell shares of companies from other countries or smaller companies that don’t list directly on big exchanges.
non-cumulative perpetual preferred stockfinancial
"7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A"
Non-cumulative perpetual preferred stock is a type of investment that pays a fixed dividend forever, without a set end date. If the company skips some dividends in a year, you don’t get that money later, and it’s gone forever. It matters because investors get regular income but may miss out if the company faces financial trouble.
accelerated share repurchase programsfinancial
"or through accelerated share repurchase programs in the discretion of"
An accelerated share repurchase program is a way for a company to buy back its own shares quickly, often within a short period. It typically involves a financial partner temporarily purchasing a large number of shares on behalf of the company, which are then gradually returned to the company’s treasury. This process allows the company to boost its stock price and earnings per share, making it important for investors tracking company performance.
EVANSVILLE, Ind., Feb. 19, 2026 (GLOBE NEWSWIRE) -- Old National Bancorp (the “Company” or “Old National”) today announced that its Board of Directors increased the quarterly cash dividend on the Company’s outstanding shares of common stock by 3.6% to $0.145 per share. This quarterly cash dividend will be payable on March 16, 2026, to shareholders of record as of the close of business on March 5, 2026.
In addition, the Board of Directors declared a quarterly cash dividend of $17.50 per share (equivalent to $0.4375 per depositary share or 1/40th interest per share) on Old National’s 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: ONBPP) and Series C (NASDAQ: ONBPO). The dividends are payable on May 20, 2026, to shareholders of record as of the close of business on May 5, 2026.
The Company also announced today that its Board of Directors approved doubling the size of its share repurchase program, authorizing the Company to repurchase up to $400 million of the Company’s outstanding shares of common stock. The new share repurchase program replaces the prior $200 million share repurchase program that was set to expire on February 28, 2026. Share repurchases under this program may be made from time to time on the open market, in privately negotiated transactions or through accelerated share repurchase programs in the discretion of, and at prices to be determined by, the Company. The program will be in effect until February 28, 2027.
ABOUT OLD NATIONAL Old National Bancorp is the holding company of Old National Bank. As the sixth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $72 billion of assets and $37 billion of assets under management, Old National ranks among the top 25 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com. In 2025, Points of Light named Old National one of "The Civic 50" - an honor reserved for the 50 most community-minded companies in the United States.
Media Relations: Rick Jillson (812) 465-7267 rick.jillson@oldnational.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What dividend change did Old National Bancorp (ONB) announce on February 19, 2026?
Old National increased its quarterly common dividend by 3.6% to $0.145 per share. According to the company, the common dividend is payable March 16, 2026 to shareholders of record as of March 5, 2026.
When will Old National pay the declared preferred dividends for Series A and C (ONBPP/ONBPO)?
The declared preferred dividends of $17.50 per share are payable May 20, 2026. According to the company, record date for those preferred dividends is the close of business on May 5, 2026.
How large is the new Old National (ONB) share repurchase program and how long will it run?
The Board authorized a $400 million share repurchase program effective until February 28, 2027. According to the company, it replaces a prior $200 million program set to expire February 28, 2026.
How will Old National (ONB) execute its $400 million repurchase program?
Repurchases may occur on the open market, through negotiated transactions, or via accelerated programs. According to the company, timing and prices will be determined at the company's discretion.
Who is eligible to receive Old National (ONB) common dividend paid March 16, 2026?
Shareholders of record as of the close of business on March 5, 2026 will receive the common dividend. According to the company, the dividend amount is $0.145 per share payable March 16, 2026.
