WesBanco Declares Increase in Quarterly Cash Dividend to Its Shareholders

WesBanco, Inc. (Nasdaq:WSBC) has announced a 3.0% increase in its quarterly cash dividend to $0.34 per common share, up from $0.33.

Rhea-AI Summary

WesBanco, Inc. (Nasdaq:WSBC) has announced a 3.0% increase in its quarterly cash dividend to $0.34 per common share, up from $0.33. The new dividend will be paid on April 1, 2022 to shareholders of record on March 11, 2022. This marks the fifteenth dividend increase since 2010, totaling a 143% increase in that period. The annualized cash dividend rate now stands at $1.36 per share, reflecting a yield of approximately 3.8% based on a closing stock price of $35.52.

Positive

• 3.0% increase in quarterly cash dividend to $0.34.
• Fifteenth increase since 2010, totaling 143% growth.
• Annualized cash dividend rate now $1.36, yielding approximately 3.8%.

Negative

• None.

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WHEELING, W.Va., Feb. 24, 2022 /PRNewswire/ -- WesBanco, Inc. (Nasdaq:WSBC), a diversified, multi-state bank holding company announced today that its Board of Directors has approved a 3.0% increase in the quarterly cash dividend to $0.34 per common share from the previous quarterly dividend of $0.33 per common share.  The higher dividend rate will be payable on April 1, 2022 to shareholders of record on March 11, 2022.  This is the fifteenth increase in the quarterly dividend since 2010, and represents a cumulative increase of 143% over that period.

The WesBanco Board of Directors approved this most recent cash dividend increase based in part on the Company's strong capital position and net income.  The new cash dividend represents an annualized cash dividend rate of $1.36 per common share.  Based upon yesterday's closing common stock price of $35.52, the new dividend equates to a yield of approximately 3.8%.

About WesBanco, Inc.

Founded in 1870, WesBanco, Inc. (www.wesbanco.com) is a diversified and balanced financial services company that delivers large bank capabilities with a community bank feel.  Our distinct long-term growth strategies are built upon unique sustainable advantages permitting us to span six states with meaningful market share.  Built upon our 'Better Banking Pledge', our customer-centric service culture is focused on growing long-term relationships by pledging to serve all personal and business customer needs efficiently and effectively.  In addition to a full range of online and mobile banking options and a full-suite of commercial products and services, WesBanco provides trust, wealth management, securities brokerage, and private banking services through our century-old Trust and Investment Services department, with approximately $5.6 billion of assets under management (as of December 31, 2021).  WesBanco's banking subsidiary, WesBanco Bank, Inc., operates 205 financial centers in the states of Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and West Virginia.  Additionally, WesBanco operates an insurance agency, WesBanco Insurance Services, Inc., and a full service broker/dealer, WesBanco Securities, Inc.

 

 

 

 

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SOURCE WesBanco, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the new dividend amount for WesBanco (WSBC)?

The new quarterly cash dividend for WesBanco (WSBC) is $0.34 per share.

When will the new dividend be paid for WesBanco (WSBC)?

The new dividend will be paid on April 1, 2022.

What is the dividend yield for WesBanco (WSBC) after the increase?

The dividend yield for WesBanco (WSBC) is approximately 3.8% based on the new dividend and previous closing stock price.

How many times has WesBanco (WSBC) increased its dividend since 2010?

WesBanco (WSBC) has increased its dividend fifteen times since 2010.

What was the previous dividend amount for WesBanco (WSBC) before the increase?

The previous quarterly dividend amount for WesBanco (WSBC) was $0.33 per share.