SALT LAKE CITY, Feb. 1, 2019 /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 February 21, 2019 to shareholders of record on February 14, 2019.
Additionally, the Board approved a plan to purchase up to $275 million of common shares during the first quarter of 2019. Customarily the board considers capital actions on a quarterly basis; additional capital actions will be considered in future periods.
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 guidelines. Zions conducts frequent stress testing in targeted areas throughout the year. Full stress testing results will be published annually, consistent with the practice of most large regional banks.
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 March 15, 2019 to shareholders of record on March 1, 2019, while the cash dividend on the Series I shares is payable on June 15, 2019 to shareholders of record on June 1, 2019.
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.