CHARLOTTE, N.C. - Truist Financial Corporation (NYSE: NYSE:TFC) has announced that its Board of Directors has declared a regular quarterly cash dividend for its common and several series of preferred stock. Shareholders of common stock are set to receive $0.52 per share on June 3, 2024, with a record date of May 10, 2024.
In addition to the common stock dividend, Truist has declared dividends on various series of preferred stock, with payment dates primarily on June 17, 2024, except for Series O and P, which will be paid on June 3, 2024. The record date for all preferred stock dividends is also May 10, 2024. Still, for Series J preferred stock, the record date is set for May 31, 2024.
The dividends per share for Series I, J, and L preferred stock have been rounded to the nearest hundred-thousandth for readability, while Series M and P will be paid semiannually. The dividend amounts for the preferred stock range from $0.296875 to $25.625 per depositary share.
Truist Financial Corporation, a major U.S. commercial bank with $535 billion in total assets as of March 31, 2024, operates across several high-growth markets in the country. The company provides a broad spectrum of financial products and services, including banking for consumers and small businesses, commercial and corporate banking, investment banking, insurance, wealth management, payment services, and specialized lending.
The announcement of dividends 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 statement from Truist Financial Corporation.
InvestingPro Insights
As Truist Financial Corporation (NYSE: TFC) continues to demonstrate its commitment to shareholder returns with the latest dividend declaration, here are some key insights from InvestingPro that provide a deeper understanding of the company's financial health and market position:
Truist has shown a dedication to its shareholders by increasing its dividend for 9 consecutive years, underlining its stable financial practices and investor-friendly approach. Additionally, with a current dividend yield of 5.47%, the company stands out as a potentially attractive option for income-focused investors.
The company's market capitalization stands at $52.21 billion, reflecting its significant presence in the banking industry. While Truist has experienced a revenue decline of -7.24% over the last twelve months as of Q1 2024, analysts are predicting 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 Banks industry and its remarkable track record of maintaining dividend payments for 52 consecutive years. For investors seeking more detailed analysis and additional InvestingPro Tips, 4 more tips are available 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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