A Tradition of Community Banking and Enhanced Shareholder Value
In the heartland of America, Old National Bancorp stands as a testament to the enduring values of community banking. With a rich history that stretches back to 1834, this Midwest-based financial institution has recently made headlines with its announcement of dividends and a new stock repurchase program. These strategic decisions underscore Old National’s unwavering commitment to its shareholders and the communities it serves.
Old National Bancorp, known for its robust suite of financial services, has declared a quarterly cash dividend of $0.14 per share on its outstanding common stock, with a scheduled payment date of March 15, 2024. In addition, the institution has announced dividends on its preferred stock, reinforcing its reputation for consistent shareholder value. These dividends reflect the firm’s stable financial position and its ability to generate returns for shareholders.
The enterprise has further demonstrated its dedication to enhancing shareholder value through the approval of a stock repurchase program. This program, which allows for the repurchase of up to $200 million of the corporation’s common stock, will be in effect until February 28, 2025. Such repurchases, whether on the open market or through private transactions, will be executed at the discretion of Old National, ensuring that they occur at opportune times and prices.
Old National Bancorp is the parent entity of Old National Bank, a key institution in the Midwest’s banking landscape. With approximately $49 billion in assets and $29 billion in assets under management, Old National ranks among the top 30 banking corporations in the United States. The bank’s comprehensive offerings, including retail and commercial banking, wealth management, investment and capital market services, cater to a diverse clientele.
The philosophy of Old National is deeply rooted in its community-oriented approach, a principle that has guided its operations for nearly two centuries. The bank’s commitment to personalized service and local engagement has solidified its role as a dependable financial ally in the Midwest. This focus on community involvement goes beyond mere business transactions, reflecting a genuine investment in the prosperity and well-being of the regions it serves.
Old National Bancorp’s recent announcements regarding dividends and the stock repurchase program are indicative of its strategic focus on delivering value. The corporation’s long-standing tradition of community banking and its comprehensive array of financial services continue to form the foundation of its business model.
Source link
