Old National Bancorp Announces Quarterly Dividends

Rhea-AI Summary

Old National Bancorp announced a quarterly cash dividend of $0.14 per share on its common stock, payable on June 17, 2024, to shareholders of record by June 5, 2024.

The Board also declared a quarterly dividend of $17.50 per share on its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A and C, equivalent to $0.4375 per depositary share, payable on August 20, 2024, to shareholders of record by August 5, 2024.

Old National Bancorp, with $53 billion in assets and $29 billion under management, ranks among the top 30 U.S. banking companies.

Positive

• Declared quarterly cash dividend of $0.14 per share on common stock.
• Declared quarterly dividend of $17.50 per share on 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock Series A and C.
• Dividend on common stock is payable on June 17, 2024.
• Dividend on preferred stock is payable on August 20, 2024.
• Old National Bancorp ranks among the top 30 banking companies in the U.S.
• Company has $53 billion in assets and $29 billion under management.

Negative

• Quarterly dividend of $0.14 per share on common stock might be considered modest by some investors.
• Non-Cumulative Preferred Stock dividends not guaranteed if the company faces financial difficulties.

News Market Reaction

-0.54%

1 alert

-0.54% News Effect

On the day this news was published, ONB declined 0.54%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

EVANSVILLE, Ind., May 15, 2024 (GLOBE NEWSWIRE) -- Old National Bancorp (the “Company” or “Old National”) (NASDAQ: ONB) today announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share on the Company’s outstanding shares of common stock. This quarterly cash dividend will be payable on June 17, 2024, to shareholders of record as of the close of business on June 5, 2024.

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 August 20, 2024, to shareholders of record as of the close of business on August 5, 2024.

ABOUT OLD NATIONAL

Old National Bancorp (NASDAQ: ONB) is the holding company of Old National Bank, which is the sixth largest commercial bank headquartered in the Midwest. With approximately $53 billion of assets and $29 billion of assets under management (including CapStar Financial Holdings, Inc. on a pro forma basis as of March 31, 2024), Old National ranks among the top 30 banking companies headquartered in the U.S. Tracing our roots to 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships with clients and in the communities it serves. In addition to providing extensive services in retail and commercial banking, Old National offers comprehensive wealth management, investment, and capital market services. For more information and financial data, please visit Investor Relations at oldnational.com.

Investor Relations:
Lynell Durchholz
(812) 464-1366
lynell.durchholz@oldnational.com

Media Relations:
Kathy Schoettlin
(812) 465-7269
kathy.schoettlin@oldnational.com

FAQ

What is the dividend amount declared by Old National Bancorp (ONB) on common stock?

Old National Bancorp declared a quarterly cash dividend of $0.14 per share on its common stock.

When will the dividends on Old National Bancorp (ONB) common stock be paid?

The dividend on Old National Bancorp's common stock will be payable on June 17, 2024.

What is the record date for Old National Bancorp's (ONB) common stock dividend?

The record date for the common stock dividend is June 5, 2024.

What is the amount declared for Old National Bancorp's (ONB) preferred stock dividend?

Old National Bancorp declared a quarterly dividend of $17.50 per share on its preferred stock, Series A and C.

When will the preferred stock dividends be paid by Old National Bancorp (ONB)?

The preferred stock dividends will be payable on August 20, 2024.

What is the record date for Old National Bancorp's (ONB) preferred stock dividend?

The record date for the preferred stock dividend is August 5, 2024.

How does Old National Bancorp (ONB) rank among U.S. banking companies?

Old National Bancorp ranks among the top 30 banking companies headquartered in the U.S.

What are the total assets and assets under management for Old National Bancorp (ONB)?

Old National Bancorp has approximately $53 billion in assets and $29 billion in assets under management.