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
Key Figures
Quarterly common dividend:$0.145 per shareDividend increase:3.6%Preferred dividend:$17.50 per share+5 more
8 metrics
Quarterly common dividend$0.145 per sharePayable March 16, 2026; increased 3.6% on common stock
Dividend increase3.6%Increase in quarterly cash dividend on common shares
Preferred dividend$17.50 per shareSeries A and C preferred, payable May 20, 2026
Depositary share dividend$0.4375 per depositary shareEach depositary share equals 1/40th interest in preferred share
Repurchase authorization$400 millionMaximum common stock repurchase capacity under new program
Prior program size$200 millionReplaced buyback program expiring February 28, 2026
Total assets$72 billionOld National’s asset base cited in the release
Assets under management$37 billionWealth and investment assets under management
Market Reality Check
Price:$24.91Vol:Volume 2,153,062 is below...
low vol
$24.91Last Close
VolumeVolume 2,153,062 is below the 20-day average of 3,158,200 (relative volume 0.68) ahead of this capital return announcement.low
TechnicalShares at $24.91 are trading above the 200-day MA of $22.07 and sit about 4.81% below the 52-week high of $26.17.
Peers on Argus
ONB was up 0.12% pre-announcement while key regional peers like CFR, ZION, WTFC,...
ONB was up 0.12% pre-announcement while key regional peers like CFR, ZION, WTFC, CBSH, and UMBF each showed modest gains between 0.25% and 0.89%. However, no peers appeared in the momentum scanner, indicating this capital return news is more stock-specific than part of a strong sector-wide move.
Announced quarterly dividends and a stock repurchase program for common shares.
Pattern Detected
Prior buyback/dividend announcements produced small, mixed reactions: one positive move and one negative move, with an average next-day move of about 0.46% in this news category.
Recent Company History
Over the past two years, Old National has repeatedly paired quarterly dividend declarations with stock repurchase authorizations. On Feb 21, 2024 and Feb 19, 2025, it announced common and preferred dividends alongside a $200 million repurchase program effective until Feb 28, 2026. Those events yielded a negative move of 1.36% in 2025 and a positive move of 2.28% in 2024, showing historically mixed but generally modest price reactions to capital return updates.
Historical Comparison
+0.5% avg move · Past buyback/dividend announcements (2024 and 2025) saw one up and one down reaction, with an averag...
buybacks,dividends
+0.5%
Average Historical Movebuybacks,dividends
Past buyback/dividend announcements (2024 and 2025) saw one up and one down reaction, with an average next-day move of 0.46%, framing expectations for how similar capital return news has traded historically.
Old National’s board has used recurring February announcements to outline dividend levels and authorize multi‑year stock repurchase programs, signaling an ongoing, structured capital return framework to shareholders.
Market Pulse Summary
This announcement highlighted an expanded capital return strategy, with a 3.6% increase in the commo...
Analysis
This announcement highlighted an expanded capital return strategy, with a 3.6% increase in the common dividend to $0.145 per share and a new $400 million share repurchase authorization replacing a $200 million program. Historically, similar buyback/dividend releases produced modest, mixed price moves averaging 0.46%. Investors may track actual repurchase activity, future dividend decisions, and upcoming earnings to gauge how consistently the company executes on these capital return commitments.
"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.
AI-generated analysis. Not financial advice.
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
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.
