LANCASTER, Pa., Dec. 17,
2024 /PRNewswire/ -- Fulton Financial Corporation
("Fulton") (Nasdaq: FULT) today
announced that its Board of Directors (the "Board") declared a
quarterly cash dividend of eighteen
cents per share on its common stock, payable on January 15, 2025, to shareholders of record as of
December 31, 2024. This is a
one cent per share increase from the
quarterly cash dividend that the Board declared on September 17, 2024.
"The Board's decision to increase our common dividend nearly 6
percent demonstrates our continued strength, momentum and
commitment to returning value to our shareholders," said Chairman
and CEO Curt Myers.
In addition, Fulton announced
that the Board declared a quarterly dividend of $12.81 per share (equivalent to $0.32025 per depositary share) on its Fixed Rate
Non-Cumulative Perpetual Preferred Stock, Series A ("Preferred
Stock"), payable on January 15, 2025,
to shareholders of record as of December 31,
2024, for the period from and including October 15, 2024, to but excluding, January 15, 2025.
Fulton also announced that the
Board approved the repurchase of shares of Fulton's common stock
and other securities in an aggregate principal amount not to exceed
$125 million (the "2025 Program")
commencing on January 1, 2025, and
expiring on December 31, 2025. Under
the 2025 Program, up to $25 million
may be used to repurchase shares of Fulton's Preferred Stock.
Purchases may be made from time to time under the 2025 Program in
open market transactions at prevailing market prices, in privately
negotiated transactions or by other means in accordance with
federal securities laws. The 2025 Program may be discontinued at
any time at the discretion of the Board and does not commit
Fulton to repurchase any of its
securities. Purchases, if any, will be determined by management in
its discretion and will depend upon a number of factors, including
Fulton's capital position,
liquidity, financial performance and alternate uses of capital, the
market price of Fulton's
securities, general market and economic conditions, and applicable
legal and regulatory requirements.
Fulton, a more than
$30 billion Lancaster, Pennsylvania-based financial
holding company, has more than 3,400 employees and operates more
than 200 financial centers in Pennsylvania, New
Jersey, Maryland,
Delaware and Virginia through Fulton Bank, N.A.
Additional information on Fulton can be found
at investor.fultonbank.com.
Media:
Rachel Sharkey (717)
291-2831
Investors:
Matt Jozwiak (717)
327-2657
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SOURCE Fulton Financial Corporation
