SALT LAKE CITY, July 26, 2019 /PRNewswire/ -- Zions Bancorporation, N.A. (ZION) announced today that its board of directors declared a regular quarterly dividend of $0.34 per common share, payable August 22, 2019 to shareholders of record on August 15, 2019. This represents an increase of 13% from the dividend paid in the year ago period, and in the second quarter of 2019.
Additionally, the Board approved a plan to purchase up to $275 million of common shares during the third quarter of 2019.
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, G, H, and J shares are payable September 16, 2019 to shareholders of record on September 1, 2019, while the cash dividend on the Series I shares is payable on December 16, 2019 to shareholders of record on December 1, 2019.
Zions Bancorporation, N.A. is one of the nation's premier financial services companies with total assets exceeding $70 billion. 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 company is a national leader in Small Business Administration lending and public finance advisory services, and is a consistent top recipient of Greenwich Excellence awards in banking. 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.