Atlantic Union (NYSE: AUB) unveils $250M buyback and 4% dividend yield
Rhea-AI Filing Summary
Atlantic Union Bankshares Corporation authorized a new share repurchase program of up to $250 million of common stock, with purchases permitted in the open market or via privately negotiated transactions through May 5, 2027 at management’s discretion.
The Board also declared a quarterly common dividend of $0.37 per share, payable June 5, 2026 to shareholders of record on May 22, 2026, and noted this equals an 8.8% increase from the second quarter of 2025. In addition, it declared a quarterly dividend on its 6.875% Perpetual Non-Cumulative Preferred Stock, Series A of $171.88 per share, or $0.43 per depositary share, payable June 1, 2026 to holders of record on May 15, 2026.
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Insights
Atlantic Union adds $250M buyback and maintains an increased common dividend, signaling ongoing capital return flexibility.
Atlantic Union Bankshares authorized a share repurchase program of up to $250 million in common stock, effective through May 5, 2027. Purchases may occur periodically in open market or privately negotiated transactions, including under Rule 10b5-1 and Rule 10b-18 trading plans, at prevailing market prices.
The program is discretionary and may be modified or terminated by the Board, with no obligation to repurchase a specific number of shares. Actual activity will depend on factors such as stock price, equity plan issuances, market conditions and legal or regulatory requirements, so the ultimate capital deployment remains open-ended.
The Board also declared a quarterly common dividend of $0.37 per share, matching the first quarter of 2026 and representing a 8.8% increase over the second quarter of 2025. A preferred dividend of $171.88 per Series A preferred share (or $0.43 per depositary share) was declared, reflecting the stated 6.875% rate. Future disclosures in company filings may show how much of the buyback capacity is ultimately used.
8-K Event Classification
Key Figures
Key Terms
Rule 10b5-1 regulatory
Rule 10b-18 regulatory
Perpetual Non-Cumulative Preferred Stock financial
trading plan financial
United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Item 8.01 Other Events.
Share Repurchase Program
On May 5, 2026, Atlantic Union Bankshares Corporation (the “Company”) announced that its Board of Directors (the “Board”) authorized a share repurchase program to purchase up to $250 million of the Company’s common stock in open market transactions or privately negotiated transactions, including pursuant to a trading plan in accordance with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended.
The authorization permits management to repurchase shares of the Company’s common stock from time to time at management’s discretion. The actual means and timing of any shares repurchased under the program will depend on a variety of factors, including the market price of the Company’s common stock, share issuances under Company equity plans, general market and economic conditions, applicable legal and regulatory requirements, and other factors. The repurchase program is authorized through May 5, 2027, although it may be modified or terminated by the Board at any time. The repurchase program does not obligate the Company to purchase any particular number of shares.
On May 5, 2026, the Company issued a press release regarding this share repurchase program, which press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Quarterly Dividend
On May 5, 2026, the Company issued a press release announcing that the Board declared a quarterly dividend of $0.37 per share of common stock. The dividend is payable on June 5, 2026 to common shareholders of record as of May 22, 2026.
The Company also announced that the Board declared a quarterly dividend on the Company’s 6.875% Perpetual Non-Cumulative Preferred Stock, Series A (the “Series A preferred stock”). The Series A preferred stock is represented by depositary shares, each representing a 1/400th ownership interest in a share of Series A preferred stock. The dividend of $171.88 per share (equivalent to $0.43 per outstanding depositary share) is payable on June 1, 2026 to holders of record as of May 15, 2026.
A copy of the Company’s press release dated May 5, 2026 is attached as Exhibit 99.2 to this Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
| Description of Exhibit |
99.1 | Share repurchase program press release dated May 5, 2026 | |
99.2 | Dividend press release dated May 5, 2026 | |
104 | Cover Page Interactive Data File – the cover page iXBRL tags are embedded within the Inline XBRL document |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ATLANTIC UNION BANKSHARES CORPORATION | ||
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Date: March 5, 2026 | By: | /s/ Alexander D. Dodd |
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| Alexander D. Dodd |
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| Executive Vice President and |
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| Chief Financial Officer |
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Exhibit 99.1
Atlantic Union Bankshares Corporation Announces $250 million Share Repurchase Program
Richmond, Va., May 5, 2026 – The Board of Directors (the “Board”) of Atlantic Union Bankshares Corporation (the “Company”) has authorized the repurchase of up to $250 million worth of the Company’s common stock through May 5, 2027 (the “Repurchase Program”). Shares of common stock may be purchased under the Repurchase Program periodically in open market transactions or privately negotiated transactions at prevailing market prices, including pursuant to a trading plan in accordance with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended.
The actual means and timing of any purchases, target number of shares and prices or range of prices under the Repurchase Program will be determined by the Company in its discretion and will depend on a number of factors, including the market price of the Company’s common stock, share issuances under Company equity plans, general market and economic conditions, applicable legal and regulatory requirements and other factors. The Repurchase Program may be modified, amended or terminated by the Board of Directors at any time. There is no assurance that the Company will purchase any shares under the Repurchase Program.
About Atlantic Union Bankshares Corporation
Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB) is the holding company for Atlantic Union Bank. Atlantic Union Bank has branches and ATMs located in Virginia, Maryland, North Carolina and Washington, D.C. Certain non-bank financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment Finance, Inc., which provides equipment financing; AUB Investments, Inc., which provides investment services; and Atlantic Union Capital Markets, Inc., which provides capital market services.
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Contact:
Bill Cimino, Senior Vice President and Director of Investor Relations 804.448.0937
Exhibit 99.2
Atlantic Union Bankshares Corporation Declares Quarterly Common Stock Dividend and Preferred Stock Dividend
Richmond, Va., May 5, 2026 – The Board of Directors (the “Board”) of Atlantic Union Bankshares Corporation (the “Company”) has declared a quarterly dividend of $0.37 per share of common stock, which is the same as the first quarter of 2026 and a $0.03, or an 8.8%, increase from the dividend in the second quarter of 2025. Based on the Company’s common stock closing price of $37.21 on May 4, 2026, the dividend yield is approximately 4.0%. The common stock dividend is payable on June 5, 2026 to common shareholders of record as of May 22, 2026.
The Board also declared a quarterly dividend on the outstanding shares of the Company’s 6.875% Perpetual Non-Cumulative Preferred Stock, Series A (the “Series A preferred stock”). The Series A preferred stock is represented by depositary shares, each representing a 1/400th ownership interest in a share of Series A preferred stock. The dividend of $171.88 per share (equivalent to $0.43 per outstanding depositary share) is payable on June 1, 2026 to holders of record as of May 15, 2026.
About Atlantic Union Bankshares Corporation
Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB) is the holding company for Atlantic Union Bank. Atlantic Union Bank has branches and ATMs located in Virginia, Maryland, North Carolina and Washington D.C. Certain non-bank financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment Finance, Inc., which provides equipment financing; AUB Investments, Inc., which provides investment services; and Atlantic Union Capital Markets, Inc., which provides capital market services.
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Contact:
Bill Cimino, Senior Vice President and Director of Investor Relations 804.448.0937