SALT LAKE CITY--(BUSINESS WIRE)--Zions Bancorporation, N.A. (NASDAQ: ZION) announced today that its board of directors declared a regular quarterly dividend of $0.34 per common share, payable February 20, 2020 to shareholders of record on February 13, 2020.
Additionally, the Board approved a plan to purchase up to $75 million of common shares during the first quarter of 2020.
Zions continues to utilize stress testing as its primary mechanism to inform its decisions on the appropriate level of capital, based upon actual and reasonably probable stressed economic conditions. Zions’ hypothetical post stress capital results, as can be found on its website, are substantially stronger than regulatory minimum capital guidelines.
The board of directors also declared regular quarterly cash dividends on the company's various perpetual preferred shares. The cash dividend on the Series A (NASDAQ: ZIONP; CUSIP: 98973A104), Series G (NASDAQ: ZIONO; CUSIP: 989701859), Series H (NASDAQ: ZIONN; CUSIP: 989701834), and Series J (CUSIP: 989701BF3) shares are payable March 15, 2020 to shareholders of record on March 1, 2020, while the cash dividend on the Series I (CUSIP: 989701BD8) shares is payable on June 15, 2020 to shareholders of record on June 1, 2020.
Zions Bancorporation, N.A. is one of the nation's premier financial services companies with annual net revenue of $2.8 billion in 2019 and approximately $70 billion of total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. The Bank is a consistent national and statewide leader of customer survey awards in small and middle-market banking, as well as a national leader in Small Business Administration lending and public finance advisory services. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at zionsbancorporation.com.