01—Abstract
Summary
Summary of the 8-K filed April 19, 2024. Cited figures are marked; the original filing is the authoritative source.
On April 19, 2024, Huntington Bancshares Incorporated announced that its Board of Directors declared a quarterly cash dividend of $0.155a per common share, unchanged from the prior quarter.
The common stock dividend is payable July 1, 2024, to shareholders of record on June 17, 2024. The filing discloses this announcement under Item 8.01 (Other Events) and attaches the related news release as Exhibit 99.1. The Board also declared quarterly cash dividends on six series of preferred stock: Floating Rate Series B, 5.70%b Series E, 5.625% Series F, 4.450% Series G, 4.5% Series H (Nasdaq: HBANP), and 6.875% Series J (Nasdaq: HBANL).
Per-share amounts range from $11.25 on the Series H preferred stock to $2,141.07c on the Series E preferred stock, with per-depositary-share equivalents specified for each series. All six preferred dividends are payable July 15, 2024, to holders of record on July 1, 2024.
The Exhibit 99.1 news release describes Huntington as a $194 billiond asset regional bank holding company headquartered in Columbus, Ohio, with approximately 970 branches in 11 states. For investors, the filing is a routine dividend declaration that maintains the common dividend rate and sets the payment schedule for both common and preferred shareholders.
02—Key points
Key Highlights
- Quarterly common stock dividend of $0.155 per share, unchanged from the prior quarter, payable July 1, 2024 to holders of record on June 17, 2024.
- Quarterly cash dividends declared on six series of preferred stock, all payable July 15, 2024 to holders of record on July 1, 2024.
- Floating Rate Series B preferred dividend of $20.72542254 per share, equivalent to $0.5181356 per depositary receipt share.
- 5.70% Series E preferred dividend of $2,141.07 per share, equivalent to $21.4107 per depositary receipt share.
- 5.625% Series F, 4.450% Series G, and 4.5% Series H (HBANP) preferred dividends declared at $1,406.25, $1,112.50, and $11.25 per share, respectively.
- 6.875% Series J preferred (HBANL) dividend of $17.19 per share, equivalent to $0.42975 per depositary share.
- Huntington is described in the release as a $194 billion asset regional bank holding company headquartered in Columbus, Ohio, with approximately 970 branches in 11 states.
03—Questions
Frequently Asked Questions
What common stock dividend did Huntington declare and when is it payable?
The Board declared a quarterly cash dividend of $0.155 per common share, unchanged from the prior quarter. It is payable July 1, 2024, to shareholders of record on June 17, 2024.
When are the preferred stock dividends payable?
All six series of preferred stock dividends are payable July 15, 2024, to their respective shareholders of record on July 1, 2024.
Which preferred stock series received dividend declarations?
The Board declared quarterly cash dividends on the Floating Rate Series B, 5.70% Series E, 5.625% Series F, 4.450% Series G, 4.5% Series H (Nasdaq: HBANP), and 6.875% Series J (Nasdaq: HBANL) non-cumulative perpetual preferred stock.
How are the preferred dividends expressed per depositary share?
The filing gives both a per-share amount and a per-depositary-share equivalent for each series. For example, the Series E dividend is $2,141.07 per share, equivalent to $21.4107 per depositary receipt share, and the Series J dividend is $17.19 per share, equivalent to $0.42975 per depositary share.
What is the 8-K filing's purpose and what does the attached press release cover?
The filing reports these dividend declarations under Item 8.01 (Other Events). Exhibit 99.1 is the April 19, 2024 news release announcing the declarations, which also describes Huntington as a $194 billion asset regional bank holding company with about 970 branches in 11 states.
04—Continue