WesBanco Declares Quarterly Cash Dividend Upon Its Perpetual Preferred Stock

Rhea-AI Summary

WesBanco, Inc. (NASDAQ: WSBC) has declared a quarterly cash dividend of $0.421875 per depositary share, or $16.875 per share, on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: WSBCP). The dividend covers the period from November 15, 2022 to February 15, 2023. Shareholders of record as of February 1, 2023, will receive the cash dividend payable on February 15, 2023. This announcement reinforces WesBanco's commitment to returning value to investors through dividends.

Positive

• Quarterly cash dividend of $0.421875 per depositary share highlights company’s commitment to returning value.
• Dividend payable on February 15, 2023, supports shareholder income.

Negative

• None.

News Market Reaction – WSBC

-0.25%

-0.25% Session move

In the trading session that priced this news, WSBC declined 0.25%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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WHEELING, W.Va., Jan. 18, 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 November 15, 2022, up to, but excluding February 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 February 15, 2023 to shareholders of record on February 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 – the only midsize bank making the top ten of both rankings.  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 $4.6 billion of assets under management (as of  September 30, 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 quarterly cash dividend of $0.421875 per depositary share for its Series A Preferred Stock (WSBCP).

When will the dividend for WSBCP be paid?

The dividend for WSBCP will be paid on February 15, 2023.

What is the record date for WesBanco's dividend payment?

The record date for WesBanco's dividend payment is February 1, 2023.

What is the time period covered by the declared dividend?

The declared dividend covers the period from November 15, 2022, to February 15, 2023.