Fifth Third Bancorp Increases Quarterly Cash Dividend on its Common Shares 2 cents, or 6%, to $0.37 per Share
Marks 9th consecutive year of increased common dividend per share, reflecting a resilient balance sheet and strong earnings profile
Also declares preferred dividends
Today Fifth Third Bancorp announced the declaration of cash dividends on its common shares, Series H preferred shares, Series I preferred shares, Series J preferred shares, Series K preferred shares, Series L preferred shares, and Class B Series A preferred shares.
Fifth Third Bancorp (NASDAQ:FITB) today declared a cash dividend on its common shares of $0.37 per share for the third quarter of 2024. The dividend is payable on October 15, 2024 to shareholders of record as of September 30, 2024.
Fifth Third also declared a cash dividend on its 5.10% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series H (quarterly rate 3 month Term SOFR plus 3.033% plus 0.26161% [the ARRC-recommended LIBOR-SOFR spread adjustment] per preferred share), at the rate of $551.08 per preferred share, which equates to approximately $22.0432 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 September 30, 2024 to shareholders of record as of September 26, 2024.
Fifth Third also declared a cash dividend on its 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I (3 month Term SOFR plus 3.71% plus 0.26161% [the ARRC-recommended LIBOR-SOFR spread adjustment]; Nasdaq: FITBI), at the rate of $594.32 per preferred share, which equates to approximately $0.59432 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 September 30, 2024 to shareholders of record as of September 26, 2024.
Fifth Third also declared a cash dividend on its 4.90% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series J (3 month Term SOFR plus 3.129% plus 0.26161% [the ARRC-recommended LIBOR-SOFR spread adjustment] per preferred share), at the rate of $557.29 per preferred share, which equates to approximately $22.2916 for each depository share. Each depositary share represents a 1/25th ownership interest in a share of Series J Preferred Stock. The Series J dividend is payable on September 30, 2024 to shareholders of record as of September 26, 2024.
Fifth Third also declared a cash dividend on its 4.95% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series K (NASDAQ:FITBO), at the rate of approximately $309.375 per preferred share, which equates to approximately $0.30938 for each depositary share. Each depositary share represents a 1/1000th ownership interest in a share of Series K Preferred Stock. The Series K dividend is payable on September 30, 2024 to shareholders of record as of September 26, 2024.
Fifth Third also declared a cash dividend on its 4.50% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series L, at the rate of $281.25 per preferred share, which equates to approximately $11.25 for each depositary share. Each depositary share represents a 1/25th ownership interest in a share of Series L Preferred Stock. The Series L dividend is payable on September 30, 2024 to shareholders of record as of September 26, 2024.
Fifth Third also declared a cash dividend on its 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A (NASDAQ:FITBP), at the rate of $15.00 per preferred share, which equates to approximately $0.3750 for each depositary share. Each depositary share represents a 1/40th ownership interest in a share of Class B Series A Preferred Stock. The Class B Series A dividend is payable on September 30, 2024 to shareholders of record as of September 26, 2024.
About Fifth Third
Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com.
Category: Dividends
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