8-K: Old National Bancorp Declares Quarterly Dividends on Common and Preferred Stock

Old National Bancorp announced the declaration of quarterly cash dividends for both its common and preferred stock, payable in June and August 2025, respectively.

Summary

• Old National Bancorp's Board of Directors has declared a quarterly cash dividend of $0.14 per share on its outstanding common stock.
• This dividend is payable on June 16, 2025, to shareholders of record as of June 5, 2025.
• The Board also declared a quarterly cash dividend of $17.50 per share (equivalent to $0.4375 per depositary share) on its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A and Series C.
• These preferred stock dividends are payable on August 20, 2025, to shareholders of record as of August 5, 2025.
• Old National Bancorp is the holding company of Old National Bank and ranks among the top 25 banking companies headquartered in the United States.
• As of March 31, 2025, on a pro forma basis including Bremer Financial Corporation, Old National has approximately $70 billion of assets and $37 billion of assets under management.

Sentiment

Score: 7

Explanation: The announcement is positive due to the declaration of dividends, indicating financial stability and commitment to shareholder returns. However, it's a routine announcement, limiting the overall impact.

Positives

• The declaration of quarterly dividends on both common and preferred stock provides income to shareholders.
• Old National Bancorp's strong asset base of approximately $70 billion and $37 billion assets under management positions it as a significant player in the Midwest and Southeast banking sectors.

Future Outlook

The announcement focuses on the declaration of dividends and does not provide specific forward-looking statements beyond the payment dates.

Industry Context

In a low interest rate environment, dividend paying stocks are attractive to investors. Old National's dividend announcement is consistent with its strategy to provide value to shareholders.

Comparison to Industry Standards

• Many regional banks offer dividends to attract and retain investors.
• The dividend yield of Old National's common stock can be compared to peers like Fifth Third Bancorp, KeyCorp, and Regions Financial Corporation to assess its relative attractiveness.
• The 7.0% dividend yield on the preferred stock is relatively high compared to current market rates, potentially making it an attractive investment for income-seeking investors.

Stakeholder Impact

• Shareholders will receive dividend payments, providing income and potentially increasing the attractiveness of the stock.
• The announcement reinforces the company's commitment to returning value to shareholders.

Key Dates

Keywords

dividends, Old National Bancorp, common stock, preferred stock, quarterly dividend, banking, financial services