PITTSBURGH, Pa. – F.N.B. Corp. declared a quarterly cash dividend of 13 cents per share on common stock, representing a 1 cent per share increase from the prior quarterly cash dividend, and authorized a new $250 million share repurchase program.
Both actions were unanimously approved by F.N.B.’s board of directors Tuesday.
“Since assuming the role of president of First National Bank of Pennsylvania in 2009, my goal has been to advance the company’s long-term commitment to optimize our capital and shareholder value while also reinvesting in the company for continued future success,” said Vincent J. Delie Jr., chairman, president and chief executive officer of F.N.B. Corp. and First National Bank. “During this time frame, F.N.B. returned $2.3 billion of capital to shareholders through both dividends and share repurchases, grew the balance sheet 477%, achieved a total shareholder return that outperformed the KBW Regional Banking Index by more than 200%, reached record capital levels and effectively managed the dividend payout ratio from nearly 80% down to 31%, in line with peer levels.”
F.N.B.’s quarterly stock dividend is payable June 15 to shareholders of record as of the close of business June 1. The new share repurchase program authorizes the company to repurchase up to $250 million of its outstanding shares of common stock, adding to the remaining $50 million from the prior share repurchase program authorized in April 2022, which reflects first-quarter 2026 repurchase activity, a news release states.
The repurchases will be made from time to time on the open market at prevailing market prices or in privately negotiated transactions. The purchases will be funded from available working capital. There is no guarantee as to the exact number of shares that will be repurchased, and F.N.B. may discontinue repurchases at any time, the release states.
“We have succeeded at creating a premier regional institution that is recognized for its strong performance, signature innovation and disciplined senior management team,” Delie said. “Long-term investments in our award-winning digital and data analytics capabilities, including the eStore, as well as in our advisory and capital markets businesses and enterprise risk management framework, have propelled our organic growth and ensured we were able to add scale effectively.”