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Banking industry

Wachovia Corporation Announces Regular Quarterly Cash Dividend

Strategic Insights

— 1 min read

Wachovia Corporation's board of directors recently approved the company's regular quarterly cash dividend on its common stock, setting the payment amount at 51 cents per share. This dividend is payable on December 15, 2005, to shareholders who were recorded as of the close of business on November 30, 2005. The company, one of the largest providers of financial services in the United States, reported significant assets, market capitalization, and stockholders' equity as of September 30, 2005, with a total of 13 million household and business relationships served through its four core businesses.

Key Takeaways:

  • Wachovia Corporation's board of directors approved a regular quarterly cash dividend on its common stock of 51 cents per share.
  • The dividend is payable on December 15, 2005, to shareholders of record as of November 30, 2005.
  • The company has four core businesses: General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serving 13 million household and business relationships.
  • Wachovia had assets of $532.4 billion, market capitalization of $73.9 billion, and stockholders' equity of $46.8 billion as of September 30, 2005.
  • The company operates through 3,138 offices in 15 states and Washington, D.C., and offers online banking and brokerage products and services through Wachovia.com.
  • Wachovia Securities, LLC, serves clients through 702 offices in 49 states and five Latin American countries.
  • The Corporate and Investment Bank serves clients in selected industries nationwide, while global services are offered through 40 offices around the world.

Statistics:

  • Assets: $532.4 billion
  • Market capitalization: $73.9 billion
  • Stockholders' equity: $46.8 billion
  • Number of household and business relationships: 13 million
  • Number of offices: 3,138
  • States with Wachovia operations: 15
  • Countries with Wachovia operations: 6
  • Global offices: 40

Sources:

  • Wachovia Corporation press release, Oct. 18, 2005
  • Wachovia Corporation's website: http://www.wachovia.com/

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