F.N.B. Declares Fresh Dividend
Aug 21st 2013 4:55PM
Updated Aug 21st 2013 4:56PM
F.N.B. is not veering from its long-standing dividend policy. The banking group has declared a quarterly common stock dividend of $0.12 per share, to be dispensed on September 15 to shareholders of record as of September 3. That amount is in line with all of the firm's preceding payouts stretching back to March 2009. Prior to that, F.N.B. was twice as generous, handing out $0.24 per share.
Although still strongly concentrated in its home market of Pennsylvania, the company has recently made a number of moves to diversify. The latest is its acquisition of Baltimore-based BCSB Bancorp, for which it agreed to pay roughly $79 million in an all-stock transaction announced in June.
The just-declared dividend annualizes to $0.48 per share. That yields 3.8% at F.N.B.'s current stock price of $12.61.
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