Old National Bancorp Announces Quarterly Dividends And Stock Repurchase Program Of Up To $200M
Portfolio Pulse from Benzinga Newsdesk
Old National Bancorp (ONB) announced a quarterly cash dividend of $0.14 per common share and dividends for its preferred stock, Series A (ONBPP) and Series C (ONBPO), along with a stock repurchase program of up to $200 million. The common stock dividend is payable on March 15, 2024, to shareholders of record as of March 5, 2024. The preferred stock dividends are payable on May 20, 2024, to shareholders of record as of May 5, 2024. The repurchase program is effective until February 28, 2025.
February 21, 2024 | 10:14 pm
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POSITIVE IMPACT
Old National Bancorp announced a quarterly cash dividend and a $200 million stock repurchase program.
The announcement of dividends and a significant stock repurchase program typically signals confidence from the company's management in its financial health and future prospects. This can lead to positive investor sentiment and potentially increase the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Old National Bancorp announced a quarterly cash dividend for its Series C preferred stock.
Similar to ONBPP, the declaration of dividends for ONBPO preferred stock is a positive signal to investors about the company's financial stability and its ability to generate consistent earnings. This could positively impact the stock's short-term price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Old National Bancorp declared a quarterly cash dividend for its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A.
Dividends on preferred stocks are generally viewed positively as they indicate a commitment to returning value to shareholders. This could lead to increased demand for ONBPP shares, potentially driving up the price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80