01—Abstract
Summary
Summary of the 8-K filed July 19, 2024. Cited figures are marked; the original filing is the authoritative source.
Huntington Bancshares Incorporated (Nasdaq: HBAN), a regional bank holding company headquartered in Columbus, Ohio, filed this Form 8-K on July 19, 2024 to report two items: an amendment to its Bylaws and the declaration of quarterly cash dividends on its common and preferred stock.
The filing states that on July 17, 2024 the Board amended and restated the Bylaws, removing the director retirement age limit from the Bylaws (the 75-year limit remains in the Corporate Governance Guidelines) and adding an exclusive forum provision selecting federal district courts for claims arising under the Securities Act of 1933. On the shareholder-return side, the Board declared a quarterly common stock cash dividend of $0.155a per share, unchanged from the prior quarter, payable October 1, 2024 to holders of record on September 17, 2024. The Board also declared quarterly cash dividends on six series of preferred stock, all payable October 15, 2024 to holders of record on October 1, 2024.
The filing describes Huntington as a $196 billionb asset regional bank with approximately 970 branches in 11 states. The governance changes are administrative in nature, while the dividend declarations confirm an unchanged common dividend and routine preferred payments.
02—Key points
Key Highlights
- Board amended and restated the Bylaws effective July 17, 2024, removing the director retirement age limit from the Bylaws; the 75-year limit remains in the Corporate Governance Guidelines.
- New Bylaw provision designates the federal district courts of the United States as the sole and exclusive forum for complaints arising under the Securities Act of 1933.
- Quarterly common stock cash dividend declared at $0.155 per share, unchanged from the prior quarter, payable October 1, 2024 to shareholders of record on September 17, 2024.
- Quarterly cash dividends declared on six preferred stock series, all payable October 15, 2024 to holders of record on October 1, 2024.
- Preferred dividends per share range from $0.28125 per depositary share (Series H, 4.5%) to $21.5765 per depositary receipt share (Series E, 5.70%).
- The filing describes Huntington as a $196 billion asset regional bank holding company with approximately 970 branches in 11 states.
03—Questions
Frequently Asked Questions
What did Huntington change in its Bylaws?
Effective July 17, 2024, the Board amended and restated the Bylaws to remove the director retirement age limit provisions and to add an exclusive forum provision selecting federal district courts for resolving Securities Act of 1933 claims. The filing notes the 75-year retirement age limit remains in the Corporate Governance Guidelines.
What is the common stock dividend and when is it paid?
The Board declared a quarterly cash dividend of $0.155 per common share, unchanged from the prior quarter. It is payable October 1, 2024 to shareholders of record on September 17, 2024.
Which preferred stock dividends were declared?
Quarterly cash dividends were declared on six preferred series: Floating Rate Series B ($20.6574507 per share), 5.70% Series E ($2,157.65 per share), 5.625% Series F ($1,406.25 per share), 4.450% Series G ($1,112.50 per share), 4.5% Series H ($11.25 per share), and 6.875% Series J ($17.19 per share). All are payable October 15, 2024 to holders of record on October 1, 2024.
What is the scale of Huntington's business?
The filing describes Huntington as a $196 billion asset regional bank holding company headquartered in Columbus, Ohio, operating approximately 970 branches in 11 states and offering banking, payments, wealth management, and risk management products and services.
04—Continue