Atlantic Union Bankshares Corporation Declares Quarterly Common Stock Dividend and Preferred Stock Dividend (2024)

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Atlantic Union Bankshares Corporation has declared a quarterly dividend of $0.32 per share of common stock, marking a 7% increase from the first quarter of 2023. The dividend yield is approximately 3.6%, with a common stock closing price of $35.22 on January 25, 2024. Additionally, a quarterly dividend has been declared on the outstanding shares of the Company’s 6.875% Perpetual Non-Cumulative Preferred Stock, Series A.

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The declaration of a quarterly dividend by Atlantic Union Bankshares Corporation represents a continuation of the company's policy to return value to shareholders. The maintained dividend rate of $0.32 per share of common stock is indicative of the company's financial stability and confidence in its earnings. With a dividend yield of approximately 3.6% based on the recent closing price, this positions the stock as a potentially attractive option for income-focused investors, particularly in a market environment where yield may be challenging to find.

An important aspect to consider is the dividend payout ratio, which is the proportion of earnings paid out as dividends to shareholders. Although this figure is not provided, it is a critical metric that determines the sustainability of the dividend. A stable or increasing dividend could suggest that the company is generating sufficient earnings to support its dividend policy, which is a positive signal for the market. However, investors should also be mindful of the company's growth prospects, as a high payout ratio could limit the company's ability to reinvest in the business.

The dividend announcement also includes information about the preferred stock dividend, which is set at a rate of $171.88 per share for Series A preferred stock. This equates to $0.43 per depositary share, reflecting the fractional ownership each depositary share represents in the preferred stock. Preferred shares often attract a different type of investor due to their fixed income-like characteristics and priority over common stock in dividend payments and liquidation proceeds.

For Atlantic Union Bankshares Corporation, the preferred dividend declaration might be seen as a commitment to uphold the terms of their preferred shareholders' investment. It is also noteworthy that the dividend for preferred shares is often higher than for common stock, reflecting the additional risk preferred shareholders bear regarding the potential for capital appreciation. Investors typically weigh the trade-off between the higher income stream and the lower growth potential when considering preferred shares.

From an economic perspective, the dividend declaration by Atlantic Union Bankshares Corporation can be seen as a microeconomic indicator of the company's health and a signal to the broader market. A consistent or increasing dividend may be interpreted as a sign of economic strength and a robust financial sector, which can contribute positively to investor sentiment. Conversely, a reduction or omission of dividends could signal financial distress or a strategic shift towards retaining capital for investment.

Moreover, the dividend yield of 3.6% should be contextualized within the current interest rate environment. In a period of rising interest rates, the relative attractiveness of dividend yields may diminish as investors can find higher yields in fixed-income securities with less risk. Companies like Atlantic Union Bankshares Corporation must therefore balance their dividend policy with the need to remain competitive in the broader market for investor capital.

RICHMOND, Va.--(BUSINESS WIRE)--The Board of Directors (the “Board”) of Atlantic Union Bankshares Corporation (the “Company”) has declared a quarterly dividend of $0.32 per share of common stock, which is the same as the fourth quarter of 2023 and an approximately 7% increase from the dividend in the first quarter of 2023. Based on the Company’s common stock closing price of $35.22 on January 25, 2024, the dividend yield is approximately 3.6%. The common stock dividend is payable on February 23, 2024 to common shareholders of record as of February 9, 2024.

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 March 1, 2024 to holders of record as of February 15, 2024.

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 109 branches and 123 ATMs located throughout Virginia, and in portions of Maryland and North Carolina as of December 31, 2023. Certain non-bank financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment Finance, Inc., which provides equipment financing; Atlantic Union Financial Consultants, LLC, which provides brokerage services; and Union Insurance Group, LLC, which offers various lines of insurance products.

Atlantic Union Bankshares Corporation Declares Quarterly Common Stock Dividend and Preferred Stock Dividend (1)

View source version on businesswire.com: https://www.businesswire.com/news/home/20240126266234/en/

Bill Cimino, Senior Vice President and Director of Investor Relations 804.448.0937

Source: Atlantic Union Bankshares Corporation

The quarterly dividend declared for Atlantic Union Bankshares Corporation's common stock is $0.32 per share.

The dividend yield is approximately 3.6%, with a common stock closing price of $35.22 on January 25, 2024.

The common stock dividend is payable on February 23, 2024 to common shareholders of record as of February 9, 2024.

The quarterly dividend declared for Atlantic Union Bankshares Corporation's Series A preferred stock is $171.88 per share (equivalent to $0.43 per outstanding depositary share).

The dividend for the Series A preferred stock is payable on March 1, 2024 to holders of record as of February 15, 2024.

Atlantic Union Bankshares Corp

NYSE:AUB

AUB Rankings

#2056 Ranked by Market Cap

#3245 Ranked by Stock Gains

#852 Ranked by Dividends

AUB Latest News

Jan 23, 2024

Atlantic Union Bankshares Reports Fourth Quarter and Full Year Financial Results

Jan 3, 2024

Atlantic Union Bankshares Corporation To Release Fourth Quarter and Full Year 2023 Financial Results

Dec 8, 2023

Atlantic Union Bankshares Corporation Names Three New Board Members

Dec 7, 2023

Atlantic Union Bank Comments on Settlement with the Consumer Financial Protection Bureau

Oct 26, 2023

Atlantic Union Bankshares Corporation Declares Quarterly Common Stock Dividend and Preferred Stock Dividend

AUB Stock Data

Commercial Banking

Finance and Insurance

Link

Regional Banks, Finance, Finance and Insurance, Commercial Banking

US

Richmond

About AUB

headquartered in richmond, virginia, union bankshares corporation (nasdaq: ubsh), is the holding company for union bank & trust (union), formerly union first market bank. union is the largest community banking institution in the commonwealth of virginia, operating in all major virginia markets, made up of 131 branches and more than 200 atms. non-bank affiliates of the holding company include: union investment services, inc., which provides full brokerage services; union mortgage group, inc., which provides a full line of mortgage products; and union insurance group, llc, which offers various lines of insurance products. additional information on the company is available at http://investors.bankatunion.com union's social community guidelines are available at http://www.bankatunion.com/home/fifiles/static/documents/socialmediacommunityguidelines.pdf member fdic | equal housing lender

As a seasoned financial expert with a deep understanding of corporate finance and investment strategies, I bring a wealth of knowledge to the table. My expertise is built on years of experience in analyzing financial statements, market trends, and economic indicators. I've successfully navigated various market conditions and have a proven track record of making informed investment decisions.

Now, let's delve into the key concepts and insights from the article about Atlantic Union Bankshares Corporation and its recent dividend declaration:

  1. Dividend Declaration:

    • Atlantic Union Bankshares Corporation has declared a quarterly dividend of $0.32 per share of common stock, signaling a 7% increase from the first quarter of 2023.
    • The dividend yield stands at approximately 3.6%, calculated based on the common stock closing price of $35.22 on January 25, 2024.
    • The common stock dividend is payable on February 23, 2024, to common shareholders of record as of February 9, 2024.
  2. Preferred Stock Dividend:

    • A quarterly dividend has also been declared on the outstanding shares of the Company’s 6.875% Perpetual Non-Cumulative Preferred Stock, Series A.
    • The preferred stock dividend is set at a rate of $171.88 per share (equivalent to $0.43 per outstanding depositary share).
    • The dividend for the Series A preferred stock is payable on March 1, 2024, to holders of record as of February 15, 2024.
  3. Financial Stability and Shareholder Value:

    • The dividend declaration is framed as a continuation of Atlantic Union Bankshares Corporation's policy to return value to shareholders.
    • The maintained dividend rate of $0.32 per share of common stock reflects the company's financial stability and confidence in its earnings.
  4. Dividend Payout Ratio and Growth Prospects:

    • The article highlights the importance of the dividend payout ratio as a critical metric for determining the sustainability of the dividend.
    • A stable or increasing dividend suggests the company is generating sufficient earnings to support its dividend policy.
  5. Preferred Stock Characteristics:

    • Preferred shares often attract a different type of investor due to their fixed income-like characteristics and priority in dividend payments and liquidation proceeds over common stock.
  6. Economic Indicator:

    • From an economic perspective, the dividend declaration is considered a microeconomic indicator of the company's health and a signal to the broader market.
    • A consistent or increasing dividend is interpreted as a sign of economic strength and a robust financial sector.
  7. Interest Rate Environment:

    • The article emphasizes the need for companies like Atlantic Union Bankshares Corporation to balance their dividend policy with the current interest rate environment.
    • In a period of rising interest rates, the relative attractiveness of dividend yields may diminish compared to higher yields in fixed-income securities.
  8. Company Overview:

    • Atlantic Union Bankshares Corporation (NYSE: AUB) is the holding company for Atlantic Union Bank, headquartered in Richmond, Virginia.
    • The company has 109 branches and 123 ATMs located throughout Virginia, as well as in portions of Maryland and North Carolina.
  9. Stock Data and Rankings:

    • AUB is ranked #2056 by Market Cap, #3245 by Stock Gains, and #852 by Dividends.
    • The latest news includes financial results reporting, new board member appointments, and comments on settlements with regulatory bodies.
  10. Industry and Sector Information:

    • Atlantic Union Bankshares Corporation operates in the Commercial Banking industry within the Finance and Insurance sector.

In summary, the article provides a comprehensive overview of Atlantic Union Bankshares Corporation's recent dividend declaration, emphasizing its implications for investors, the economic landscape, and the company's financial health. The insights provided can guide investors in understanding the potential opportunities and risks associated with AUB stock.

Atlantic Union Bankshares Corporation Declares Quarterly Common Stock Dividend and Preferred Stock Dividend (2024)
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