© Reuters.
CINCINNATI – Fifth Third Bancorp (NASDAQ:) has announced cash dividends for various classes of its shares, including common and preferred stocks. In a recent declaration, the company has set a dividend of $0.35 per common share for the first quarter of 2024, which will be payable to shareholders of record as of March 28, 2024, with a payment date of April 15, 2024.
In addition, dividends for several series of preferred shares were also declared. The 5.10% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series H, will have a dividend rate of $545.09 per share, equaling approximately $21.8036 per depositary share, with each representing a 1/25th interest in a Series H Preferred Stock. This dividend is scheduled for payment on April 1, 2024.
The 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I (NASDAQ:FITBI), will see a dividend rate of $587.86 per share, which translates to roughly $0.5879 per depositary share, with each representing a 1/1000th interest. This dividend is also due on April 1, 2024.
Series J Preferred Stock holders will receive a dividend rate of $551.01 per share, or approximately $22.0402 per depositary share, with each depositary share representing a 1/25th interest in a Series J Preferred Stock. The Series K Preferred Stock (NASDAQ:FITBO) will have a dividend of approximately $309.375 per share, equating to about $0.30938 per depositary share, with each representing a 1/1000th interest.
The bank has also declared dividends for its Series L Preferred Stock at a rate of $281.25 per share, which is approximately $11.25 per depositary share, each representing a 1/25th interest. Lastly, the 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A (NASDAQ:FITBP), will have a dividend of $15.00 per share, or about $0.3750 per depositary share, each representing a 1/40th interest. All aforementioned dividends for preferred shares are payable on April 1, 2024, to shareholders of record as of March 28, 2024.
This dividend declaration reflects Fifth Third Bancorp’s ongoing commitment to providing returns to its shareholders. The bank, known for its innovation and history, continues to focus on financial services that foster growth for individuals, businesses, and communities. The information is based on a press release statement from Fifth Third Bancorp.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Read the full article here
