The previous quarter proved to be good for Huntington Bancshares Incorporated (NASDAQ:HBAN); hence, it has decided to announce cash dividend on Series A and B preferred stocks. As per the reports, the firm has got a positive response in the stock market.
The board of directors of Huntington has decided to give cash dividend to all the holders of 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stocks. The cash dividend of $21.25 per share is payable to all the shareholders on July 15, 2015 on the basis of records of July 1, 2015. Apart from these Series A shares, the management has also decided to offer a dividend on Floating Rate Series B Non-Cumulative Perpetual Preferred Stock. All the shareholders will be given a cash dividend of $7.43825352 per share or $0.1859563 per depositary receipt share. The dividend is payable to all the shareholders on July 15, 2015 on the basis of the records of July 1, 2015.
The primary reason for offering dividends is nothing but the good performance in the previous quarter. It not only managed to meet the customers’ expectations in terms of revenues, earnings, profits and other financial figures, but also in terms of operational efficiency. It has achieved its operational targets in the first quarter and looks solid to repeat the same performance in the coming months as well. Total market value of its assets is $68 billion, which is expected to enhance at the end of the current year.
It is one of the most sought after regional banking organization and has a huge network of more than 1500 ATMs and 700 branches across six Midwestern states. It has been in the business for over 140 years, which is why it is considered as one of the best companies in the business. The management of the company is delighted with the current performance and hopes to continue the same in the future as well.