SALT LAKE CITY, Oct. 26, 2018 /PRNewswire/ -- Zions Bancorporation, N.A. (ZION) announced today that its board of directors declared a regular quarterly dividend of $0.30 per common share, payable November 21, 2018 to shareholders of record on November 14, 2018.
Additionally, the Board approved a plan to purchase up to $250 million of common shares during the fourth quarter of 2018.
Zions will continue 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 requirements.
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 I shares are payable December 17, 2018 to shareholders of record on December 1, 2018, while the cash dividend on the Series J shares is payable on March 15, 2019 to shareholders of record on March 1, 2019.
The Board also approved the call, with call date November 15, 2018, of $162 million of the subordinated note maturing November 15, 2023.
Zions Bancorporation N.A. is one of the nation's premier financial services companies with total assets exceeding $65 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.