BIRMINGHAM, Ala.--(BUSINESS WIRE)--
The Regions Financial Corporation (NYSE: RF) Board of Directors today
voted to increase the quarterly common stock dividend approximately 29
percent to $0.09 per share and declared the following cash dividends on
its common shares, Series A preferred shares, and Series B preferred
shares:
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A cash dividend of $0.09, an increase of 28.57 percent or $0.02 on
each share of outstanding common stock, payable on September 29, 2017,
to stockholders of record at the close of business on September 8,
2017.
-
A cash dividend of $15.9375 per share of Series A Preferred Stock
outstanding (equivalent to approximately $0.398438 per depositary
share), payable on September 15, 2017, to stockholders of record at
the close of business on September 1, 2017.
-
A cash dividend of $15.9375 per share of Series B Preferred Stock
outstanding (equivalent to approximately $0.398438 per depositary
share), payable on September 15, 2017, to stockholders of record at
the close of business on September 1, 2017.
Additionally, the Board of Directors amended the Company's By-Laws to
include a proxy access provision. Proxy access enables eligible
shareholders to nominate director candidates and have those nominees
appear in the Company's annual meeting proxy materials. The amended
By-Laws align with leading practices in corporate governance.
"The Board's proactive adoption of proxy access was based on a careful
review of good corporate governance practices, as well as feedback from
our long-term shareholders," said Charles McCrary, Lead Independent
Director and Chair of the Nominating and Corporate Governance Committee.
"Responsible corporate governance is foundational to maintaining
sustainable franchise value, and the Board and Management are committed
to ensuring that the interests of shareholders are being served."
Under the proxy access amendment, a shareholder, or a group of up to 20
shareholders, owning at least three percent of the Company's outstanding
common stock continuously for at least three years may nominate up to 20
percent of the board or two directors, whichever is greater. Nominees
are subject to the procedures, terms and conditions specified in the
By-Laws. The proxy access amendment will be effective for the Company's
2018 proxy and annual meeting.
About Regions Financial Corporation
Regions Financial Corporation (NYSE: RF), with $125 billion in assets,
is a member of the S&P 500 Index and is one of the nation's largest
full-service providers of consumer and commercial banking, wealth
management, mortgage, and insurance products and services. Regions
serves customers across the South, Midwest and Texas, and through its
subsidiary, Regions Bank, operates approximately 1,500 banking offices
and 1,900 ATMs. Additional information about Regions and its full line
of products and services can be found at www.regions.com.
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Regions Financial Corporation
Media Contact:
Evelyn
Mitchell, 205-264-4551
or
Investor Relations:
Dana
Nolan, 205-264-7040
Source: Regions Financial Corporation
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