Zions Bancorporation’s Board Approves Share Repurchase and Declares Dividends on Common and Preferred Stock

Zions Bancorporation (NASDAQ: ZION) has authorized a $125 million share repurchase for Q3 2021, enhancing shareholder value.

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07/23/2021 - 02:03 PM EDT

Zions Bancorporation, N.A. (NASDAQ: ZION) announced today that its board of directors (“board”) authorized a share repurchase for the third quarter of 2021 of up to $125 million.

The board also declared a regular quarterly dividend of $0.38 per common share, payable August 19, 2021 to shareholders of record at the close of business on August 12, 2021.

Additionally, the board declared regular quarterly cash dividends on the company's various perpetual preferred shares, as detailed below.

The cash dividend on the following series are payable September 15, 2021 to shareholders of record on September 1, 2021:

Series A (NASDAQ: ZIONP; CUSIP: 98973A104);
Series G (NASDAQ: ZIONO; CUSIP: 989701859); and
Series J (CUSIP: 989701BF3)

The cash dividend on the Series I (CUSIP: 989701BD8) shares is payable on December 15, 2021 to shareholders of record on December 1, 2021.

Zions has obtained the requisite regulatory approval to allow Zions to timely execute on this authorization.

Zions Bancorporation, N.A. is one of the nation's premier financial services companies with annual net revenue of $2.8 billion in 2020 and more than $85 billion of total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The Bank is a consistent recipient of national and state-wide customer survey awards in small and middle-market banking, as well as a leader in public finance advisory services and Small Business Administration lending, recently ranking as the tenth largest provider in the U.S. of the SBA’s Paycheck Protection Program loans (including both rounds). In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at zionsbancorporation.com.