By Sarina Isaacs
Fulton Financial said it has raised its quarterly dividend by a penny per share and authorized a fresh share buyback for next year.
The Lancaster, Pa.-based financial holding firm on Tuesday said its board of directors upped the cash dividend to 18 cents a share from the prior 17 cents, up 5.9%.
The new payout, equal to 72 cents a year, represents an annual yield of about 3.5% based on Fulton's closing price of $20.50.
The company's last dividend raise came about a year ago, when it lifted per-share dividends by 6.3%.
Fulton also said it would repurchase up to $125 million of its shares in a new authorization running from Jan. 1 through Dec. 31 of next year.
Write to Sarina Isaacs at sarina.isaacs@wsj.com
(END) Dow Jones Newswires
December 17, 2024 17:06 ET (22:06 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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