LANCASTER, PA — Fulton Financial Corporation (Nasdaq: FULT) has announced a series of strategic actions, reflecting its strong financial standing and commitment to shareholder value.
The company’s Board of Directors declared a quarterly cash dividend of 18 cents per share on its common stock, payable on January 15, 2025, to shareholders of record as of December 31, 2024. This represents a one-cent increase from the previous quarter’s dividend, marking a nearly 6% rise.
Chairman and CEO Curt Myers highlighted the significance of the increase, stating, “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.”
Additionally, Fulton declared a quarterly dividend of $12.81 per share (equivalent to $0.32025 per depositary share) on its Preferred Stock, Series A. This dividend also applies to the January 15, 2025, payment date for shareholders of record as of December 31, 2024.
Fulton further announced the approval of a stock repurchase program for 2025, which allows the company to buy back up to $125 million of its common stock and other securities. This includes up to $25 million allocated for the repurchase of Preferred Stock. The program, effective January 1, 2025, provides flexibility for repurchases in open market or privately negotiated transactions, with management considering factors such as market conditions and the company’s financial performance.
Operating with over $30 billion in assets, Fulton Financial Corporation employs more than 3,400 people and serves customers through 200 financial centers across Pennsylvania, New Jersey, Maryland, Delaware, and Virginia. These announcements spotlight Fulton’s efforts to enhance shareholder value while maintaining a strong financial foundation.
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