FULT 8-K
Fulton Financial Corp (FULT)
8-K
2024-12-17
For: 2024-12-17
View Original
Added on
April 12, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of Principal Executive Offices) | (Zip Code) | |||||||||||||
(717 ) 291-2411
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions see General Instruction A.2 below:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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Item 7.01 Regulation FD Disclosure.
On December 17, 2024, Fulton Financial Corporation ("Fulton") announced that its Board of Directors (the "Board") declared a quarterly cash dividend of eighteen cents per share on its common stock, payable on January 15, 2025, to shareholders of record as of December 31, 2024. This is a one cent per share increase from the quarterly cash dividend that the Board declared on September 17, 2024. In addition, Fulton announced that the Board declared a quarterly dividend of $12.81 per share (equivalent to $0.32025 per depositary share) on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (the "Preferred Stock"), payable on January 15, 2025, to shareholders of record as of December 31, 2024, for the period from and including October 15, 2024 to, but excluding, January 15, 2025.
Fulton also announced that the Board approved the repurchase of shares of Fulton's common stock and other securities in an aggregate principal amount not to exceed $125 million (the "2025 Program") commencing on January 1, 2025 and expiring on December 31, 2025. Under the 2025 Program, up to $25 million may be used to repurchase shares of Fulton's Preferred Stock. Purchases may be made from time to time under the 2025 Program in open market transactions at prevailing market prices, in privately negotiated transactions or by other means in accordance with federal securities laws. The 2025 Program may be discontinued at any time at the discretion of the Board and does not commit Fulton to repurchase any of its securities. Purchases, if any, will be determined by management in its discretion and will depend upon a number of factors, including Fulton's capital position, liquidity, financial performance and alternate uses of capital, the market price of Fulton's securities, general market and economic conditions, and applicable legal and regulatory requirements.
On December 17, 2024, Fulton issued a press release announcing the dividend declarations and the 2025 Program, which is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The information in this Current Report on Form 8-K provided under Item 7.01, including all exhibits attached hereto, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liability of such section, nor shall it be deemed incorporated by reference in any filing of Fulton under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | ||||
| Press Release dated December 17, 2024. | |||||
| 104 | Cover page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document). | ||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: December 17, 2024 | FULTON FINANCIAL CORPORATION | |||||||
| By: | /s/ Richard S. Kraemer | |||||||
| Richard S. Kraemer | ||||||||
| Senior Executive Vice President and | ||||||||
| Chief Financial Officer | ||||||||
Fulton Financial Corporation Announces Increased Common Stock Dividend, Preferred Stock Dividend and $125 Million Repurchase Program
Company Release - 12/17/2024 4:30 PM ET
LANCASTER, Pa., December 17, 2024 /PRNewswire/ -- Fulton Financial Corporation (“Fulton”) (Nasdaq: FULT) today announced that its Board of Directors (the “Board”) declared a quarterly cash dividend of eighteen cents per share on its common stock, payable on January 15, 2025, to shareholders of record as of December 31, 2024. This is a one cent per share increase from the quarterly cash dividend that the Board declared on September 17, 2024.
“The Board’s decision to increase our common dividend nearly 6 percent demonstrates our continued strength, momentum and commitment to returning value to our shareholders,” said Chairman and CEO Curt Myers.
In addition, Fulton announced that the Board declared a quarterly dividend of $12.81 per share (equivalent to $0.32025 per depositary share) on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (“Preferred Stock”), payable on January 15, 2025, to shareholders of record as of December 31, 2024, for the period from and including October 15, 2024, to but excluding, January 15, 2025.
Fulton also announced that the Board approved the repurchase of shares of Fulton’s common stock and other securities in an aggregate principal amount not to exceed $125 million (the “2025 Program”) commencing on January 1, 2025, and expiring on December 31, 2025. Under the 2025 Program, up to $25 million may be used to repurchase shares of Fulton’s Preferred Stock. Purchases may be made from time to time under the 2025 Program in open market transactions at prevailing market prices, in privately negotiated transactions or by other means in accordance with federal securities laws. The 2025 Program may be discontinued at any time at the discretion of the Board and does not commit Fulton to repurchase any of its securities. Purchases, if any, will be determined by management in its discretion and will depend upon a number of factors, including Fulton's capital position, liquidity, financial performance and alternate uses of capital, the market price of Fulton's securities, general market and economic conditions, and applicable legal and regulatory requirements.
Fulton, a more than $30 billion Lancaster, Pennsylvania-based financial holding company, has more than 3,400 employees and operates more than 200 financial centers in Pennsylvania, New Jersey, Maryland, Delaware and Virginia through Fulton Bank, N.A.
Additional information on Fulton can be found at investor.fultonbank.com.
Media:
Rachel Sharkey (717) 291-2831
Investors:
Matt Jozwiak (717) 327-2657