LANCASTER, Pa.--(BUSINESS WIRE)--
Fulton Financial Corporation (Nasdaq: FULT) today announced that its
Board of Directors has authorized the payment of a special cash dividend
of three cents per share on its common stock. The special dividend is
payable on December 15, 2017, to shareholders of record as of December
1, 2017.
Fulton paid quarterly cash dividends of ten cents per share in the first
quarter of 2017 and eleven cents per share in each of the three
subsequent quarters in 2017. The Board of Directors is expected to
consider the next quarterly cash dividend at its December 2017 meeting.
Fulton also announced that its Board of Directors has extended the
timeframe for its stock repurchase program announced in October 2015
from December 31, 2017, to December 31, 2018.
The stock repurchase program authorizes Fulton to repurchase up to an
aggregate of $50 million of Fulton’s outstanding common stock. To date,
approximately $18.5 million of Fulton’s common stock has been
repurchased under the repurchase program, with a remaining authorization
of up to $31.5 million of common stock that may be repurchased under the
program through December 31, 2018.
As permitted by securities laws and other legal requirements and subject
to market conditions and other factors, purchases may be made from time
to time in open market or privately negotiated transactions, including
without limitation, through accelerated share repurchase transactions.
The repurchase program may be discontinued at any time.
Fulton Financial Corporation, a $20 billionLancaster, Pa.-based
financial holding company, has more than 3,700 employees and operates
more than 240 branches in Pennsylvania, Maryland, Delaware, New Jersey
and Virginia through six subsidiary banks.
Additional information on Fulton Financial Corporation can be found at www.fult.com.
Safe Harbor Statement
This news release may contain forward-looking statements with respect to
Fulton Financial Corporation’s financial condition, results of
operations and business. Do not unduly rely on forward-looking
statements. Forward-looking statements can be identified by the use of
words such as "may," "should," "will," "could," "estimates," "predicts,"
"potential," "continue," "anticipates," "believes," "plans," "expects,"
"future," "intends" and similar expressions which are intended to
identify forward-looking statements. These forward-looking statements
are not guarantees of future performance and are subject to risks and
uncertainties, some of which are beyond Fulton's control and ability to
predict, that could cause actual results to differ materially from those
expressed in the forward-looking statements.
A discussion of certain risks and uncertainties affecting Fulton, and
some of the factors that could cause Fulton's actual results to differ
materially from those described in the forward-looking statements, can
be found in the sections entitled "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in Fulton’s Annual Report on Form 10-K for the year ended
December 31, 2016, and Quarterly Reports on Form 10-Q for the quarters
ended March 31, 2017, June 30, 2017, and September 30, 2017, which have
been filed with the Securities and Exchange Commission and are available
in the Investor Relations section of Fulton's website (www.fult.com)
and on the Securities and Exchange Commission's website (www.sec.gov).
Fulton undertakes no obligation, other than as required by law, to
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
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Fulton Financial Corporation
Stacey Karshin, 717-291-2739
Source: Fulton Financial Corporation