Regions Financial (RF) Announces Share Repurchase Program Up To $1.37 Billion

Regions Financial Corporation (NYSE: RF) today announced the company’s Board of Directors has authorized the repurchase of up to $1.37 billion of the company’s common stock for the third quarter of 2019 through the second quarter of 2020. The exact amount of repurchases will be determined by actual loan growth and the company’s objective to prudently manage Common Equity Tier 1 capital at 9.5%.

Additionally, Regions’ Board of Directors will consider an increase in the quarterly common stock dividend, effective for the third quarter of 2019, at its regularly scheduled meeting in July 2019. The increased dividend, if approved by Regions’ Board of Directors, is expected to result in a dividend payout ratio within Regions’ stated target range of 35-45%.

In addition to the factors above, the timing and exact amount of common stock repurchased under the repurchase program is subject to the terms of Regions’ capital plan and will depend on various factors, including market conditions, Regions’ capital position and internal capital generation. The repurchase program does not include specific price targets; may be executed through open market purchases, accelerated share repurchase transactions or privately negotiated transactions, including utilizing Rule 10b5-1 programs; and may be suspended at any time.

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