Also declares preferred dividends
Board approves share repurchase authorization of 100 million shares
CINCINNATI–(BUSINESS WIRE)–Fifth Third Bancorp today declared cash dividends on its common shares,
Series H preferred shares, and Series I preferred shares.
Fifth Third Bancorp (Nasdaq: FITB) today declared a cash dividend on its
common shares of $0.24 for the second quarter of 2019. The dividend is
payable on July 15, 2019 to shareholders of record as of June 28, 2019.
Fifth Third also declared a cash dividend on its 5.10% Fixed-to-Floating
Rate Non-Cumulative Perpetual Preferred Stock, Series H, at the rate of
$637.50 per preferred share, which equates to approximately $25.50 for
each depositary share. Each depositary share represents a 1/25th
ownership interest in a share of Series H Preferred Stock. The Series H
dividend is payable on July 1, 2019 to shareholders of record as of June
28, 2019.
Fifth Third also declared a cash dividend on its 6.625%
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series
I (Nasdaq: FITBI), at the rate of $414.06 per preferred share, which
equates to approximately $0.41406 for each depositary share. Each
depositary share represents a 1/1000th ownership interest in a share of
Series I Preferred Stock. The Series I dividend is payable on July 1,
2019 to shareholders of record as of June 28, 2019.
Fifth Third also announced that its Board of Directors approved a new
share repurchase authorization of up to 100 million shares, which
replaces the previous authorization from 2018 under which approximately
22 million shares remain. The new repurchase authorization does not have
an expiration date, does not include specific price targets, may be
executed through open market purchases or one or more private negotiated
transactions, including Rule 10b5-1 programs, and may be suspended at
any time.
All future capital distributions are subject to evaluation of Fifth
Third’s performance, the state of the economic environment, market
conditions, regulatory factors, and other risks and uncertainties and
approval by the Board of Directors at any given time.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio, and the parent company of Fifth Third
Bank, an Ohio-chartered bank. As of March 31, 2019, Fifth Third had $168
billion in assets and operated 1,207 full-service banking centers and
2,559 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North
Carolina. In total, Fifth Third provides its customers with access to
approximately 52,000 fee-free ATMs across the United States. Fifth Third
operates four main businesses: Commercial Banking, Branch Banking,
Consumer Lending and Wealth & Asset Management. Fifth Third is among the
largest money managers in the Midwest and, as of March 31, 2019, had
$394 billion in assets under care, of which it managed $44 billion for
individuals, corporations and not-for-profit organizations through its
Trust and Registered Investment Advisory businesses. Investor
information and press releases can be viewed at www.53.com.
Fifth Third’s common stock is traded on the Nasdaq® Global
Select Market under the symbol “FITB.” Fifth Third Bank was established
in 1858. Deposit and Credit products are offered by Fifth Third Bank.
Member FDIC.
Contacts
Chris Doll (Investor Relations)
[email protected]
| 513-534-2345
Gary Rhodes (Media Relations)
[email protected]
| 513-534-4225
