First Republic Bank Declares Cash Dividends on Perpetual Preferred Stock

Strategic Insights -

First Republic Bank, a leading private bank and wealth management company, has announced the declaration of cash dividends on several series of its perpetual preferred stock. The bank has declared quarterly cash dividends on its Noncumulative Perpetual Series J, K, L, M, and N Preferred Stocks. The dividends range from $0.25781250 to $11.75 per share, depending on the series. These dividends are payable on January 28, 2022, to shareholders of record as of January 14, 2022. This announcement highlights the bank's commitment to providing regular returns to its shareholders.

Key Takeaways:

  • First Republic Bank has declared quarterly cash dividends on its Noncumulative Perpetual Series J, K, L, M, and N Preferred Stocks.
  • The Series J Preferred Stock dividend is $11.75 per share, payable on January 28, 2022, to shareholders of record as of January 14, 2022.
  • The Series K Preferred Stock dividend is $10.3125 per share, payable on January 28, 2022, to shareholders of record as of January 14, 2022.
  • The Series L Preferred Stock dividend is $10.6250 per share, payable on January 28, 2022, to shareholders of record as of January 14, 2022.
  • The Series M Preferred Stock dividend is $10.00 per share, payable on January 28, 2022, to shareholders of record as of January 14, 2022.
  • The Series N Preferred Stock dividend is $7.6250 per share, payable on January 28, 2022, to shareholders of record as of January 14, 2022.
  • First Republic Bank specializes in delivering exceptional, relationship-based service and offers a range of products, including residential, commercial, and personal loans, deposit services, and wealth management.
  • The bank has a significant presence in the Western United States, with offices in California, Oregon, Massachusetts, Florida, Connecticut, New York, and Wyoming.

Statistics:

  • $11.75 per share: Dividend declared on Series J Preferred Stock
  • $0.293750 per depositary share: Dividend declared on Series J Preferred Stock
  • $10.3125 per share: Dividend declared on Series K Preferred Stock
  • $0.25781250 per depositary share: Dividend declared on Series K Preferred Stock
  • $10.6250 per share: Dividend declared on Series L Preferred Stock
  • $0.265625 per depositary share: Dividend declared on Series L Preferred Stock
  • $10.00 per share: Dividend declared on Series M Preferred Stock
  • $0.250000 per depositary share: Dividend declared on Series M Preferred Stock
  • $7.6250 per share: Dividend declared on Series N Preferred Stock
  • $0.190625 per depositary share: Dividend declared on Series N Preferred Stock

Sources:

  • First Republic Bank, "First Republic Bank Declares Cash Dividends on Perpetual Preferred Stock" (Business Wire, January 5, 2022)
  • First Republic Bank, "About First Republic Bank" (firstrepublic.com)