WesBanco Declares Quarterly Cash Dividend Upon Its Perpetual Preferred Stock

Rhea-AI Summary

WesBanco, Inc. (NASDAQ:WSBC) declared a quarterly cash dividend of $0.421875 per depositary share on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ:WSBCP). This dividend pertains to the period from February 15, 2023 to May 15, 2023, and is payable on May 15, 2023 to shareholders of record as of May 1, 2023.

The decision reflects the company’s ongoing commitment to return value to its investors amidst its diversified financial services and strong market position across multiple states.

Positive

• Dividend of $0.421875 per share enhances shareholder value.
• Continued commitment to regular dividend payments indicates financial stability.

Negative

• None.

News Market Reaction

+2.85%

1 alert

+2.85% News Effect

On the day this news was published, WSBC gained 2.85%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

WHEELING, W.Va., March 15, 2023 /PRNewswire/ -- WesBanco, Inc. (Nasdaq:WSBC), a diversified, multi-state bank holding company, announced today that its Board of Directors has declared a quarterly cash dividend on the outstanding shares of its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock") (Nasdaq:WSBCP).  The declared cash dividend on the Series A Preferred Stock is for the period from February 15, 2023, up to, but excluding May 15, 2023.  The declared cash dividend equates to $0.421875 per depositary share, or $16.875 per share of the Series A Preferred Stock outstanding.  The cash dividend is payable on May 15, 2023 to shareholders of record on May 1, 2023.

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.  Furthermore, our strong financial performance and employee focus has earned us recognition by Forbes as both one of America's Best Banks and Best Midsize Employers.  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 $4.9 billion of assets under management (as of December 31, 2022).  WesBanco's banking subsidiary, WesBanco Bank, Inc., operates 194 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

What is the dividend amount declared by WesBanco for WSBCP?

WesBanco declared a dividend of $0.421875 per depositary share for its Series A Preferred Stock (WSBCP).

When is the WesBanco dividend payable?

The dividend is payable on May 15, 2023.

What period does the WesBanco dividend cover?

The dividend covers the period from February 15, 2023, to May 15, 2023.

What is the record date for the WesBanco dividend?

The record date for the dividend is May 1, 2023.