CHARLOTTE, NC – Truist Financial Corporation (NYSE:NYSE:) announced that its Board of Directors has declared a regular quarterly cash dividend on its common stock and several series of preferred stock. Shareholders of common stock will receive $0.52 per share on June 3, 2024, with a record date of May 10, 2024.
In addition to the dividend on common stock, Truist has declared dividends on various series of preferred stock, with payment dates primarily on June 17, 2024, except Series O and P, which will be paid on June 3, 2024. The record date for also all preferred stock dividends expire on May 10, 2024. However, for Series J Preferred Stock, the record date is May 31, 2024.
Dividends per share for Series I, J and L preferred stock have been rounded to the nearest cent for readability purposes, while Series M and P will be paid semiannually. Dividend amounts for preferred shares range from $0.296875 to $25.625 per depositary share.
Truist Financial Corporation, a major U.S. commercial bank with total assets of $535 billion as of March 31, 2024, operates in several high-growth markets across the country. The company provides a broad spectrum of financial products and services, including consumer and small business banking, commercial and corporate banking, investment banking, insurance, wealth management, payment services and specialty lending.
The dividend announcement is a routine part of Truist’s financial operations and reflects the company’s commitment to returning value to its shareholders. This information is based on a press release from Truist Financial Corporation.
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Insights on InvestingPro
As Truist Financial Corporation (NYSE: TFC) continues to demonstrate its commitment to shareholder returns with its latest dividend declaration, here are some key insights from InvestingPro that provide a deeper understanding of its financial health and market position of society:
Truist has shown dedication to its shareholders by increasing the dividend for 9 consecutive years, highlighting its stable financial practices and investor-friendly approach. Plus, with a current dividend yield of 5.47%the company stands out as a potentially attractive option for income-focused investors.
The market capitalization of the company is equal to $52.21 billion, reflecting its significant presence in the banking sector. While Truist reported a revenue decline of -7.24% in the trailing twelve months starting in the first quarter of 2024, analysts are forecasting profitability for the year ahead, which could signal a turnaround in its financial performance.
InvestingPro tips highlight Truist’s position as a prominent player in the banking industry and its impressive track record of maintaining dividend payments 52 consecutive years. For investors looking for more detailed analysis and additional tips from InvestingPro, there are 4 more tips that could provide valuable insights into Truist’s future prospects.
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Truist’s financial resilience and strategic market positioning are essential factors for investors to consider, especially in the dynamic banking sector. Stay informed with InvestingPro, your gateway to advanced financial metrics and expert insights.
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