8-KRegulation FDOther EventsExhibits & Filings

FIFTH THIRD BANCORP 8-K Report, Regulation FD Disclosure (Mar 19, 2013)

Filed March 19, 2013For Securities:FITBFITBOFITBPFITB-PIFITB-PMFITB-PAFITBIFITB-PK

Summary

Fifth Third Bancorp (FITB) filed an 8-K on March 19, 2013, primarily detailing its capital return plans and updated share repurchase authorization. The company announced a cash dividend of $0.11 per common share for the first quarter of 2013, payable in April. Importantly, their 2013 Comprehensive Capital Analysis & Review (CCAR) plan includes the potential to increase this dividend to $0.12 per share in the second quarter of 2013 and maintain it through the first quarter of 2014, subject to Board approval in June. The most significant announcement is the Board's approval of a new share repurchase program, authorizing the repurchase of up to 100 million shares of outstanding common stock. This new authorization supersedes a previous one, under which approximately 54 million shares were still available. The company plans to execute these repurchases through various methods, including open market purchases and derivative instruments.

Key Highlights

  • 1Declaration of a $0.11 cash dividend per common share for Q1 2013, payable April 18, 2013.
  • 2Potential increase of the quarterly dividend to $0.12 per share in Q2 2013, subject to Board approval.
  • 3New share repurchase authorization for up to 100 million shares of common stock approved.
  • 4The new repurchase authorization replaces a prior one, with approximately 54 million shares remaining under the old authorization.
  • 5Repurchases can be conducted via open market transactions or derivative instruments.
  • 6The announcements are part of Fifth Third's 2013 Comprehensive Capital Analysis & Review (CCAR) plan.
  • 7The press release attached as Exhibit 99.1 contains the full details of these announcements.

Frequently Asked Questions

Fifth Third Bancorp declared a cash dividend of $0.11 per common share for the first quarter of 2013. This dividend is payable on April 18, 2013, to shareholders of record as of March 29, 2013.

Yes, Fifth Third's 2013 Comprehensive Capital Analysis & Review (CCAR) plan includes the potential to increase the quarterly dividend to $0.12 per share in the second quarter of 2013. This potential increase will be considered by the Board of Directors at their June meeting and is planned to be maintained through the first quarter of 2014.

The Board of Directors has approved a new authorization to repurchase up to 100 million shares of Fifth Third's outstanding common stock. This is a significant increase and replaces a previous authorization where approximately 54 million shares were still available. The company intends to carry out these repurchases through various methods, including open market transactions and the use of derivative instruments.

No, this 8-K filing does not include new financial statements. It primarily serves as a Regulation FD disclosure, announcing dividend and share repurchase plans, and is incorporated by reference to an attached press release.