SALT LAKE CITY - Zions Bancorporation, N.A. (NASDAQ: NASDAQ:ZION) has announced dividend payouts for both its common and preferred shareholders. The company's board of directors declared a regular quarterly dividend of $0.41 per common share, which is scheduled for distribution on August 22, 2024, to shareholders who are on record as of August 15, 2024.
In addition to the common stock dividend, Zions Bancorporation will also pay dividends on its perpetual preferred shares. The dividends for the preferred shares are to be paid on September 15, 2024, to shareholders of record by September 1, 2024. The series of preferred shares with declared dividends are Series A (NASDAQ: ZIONP), Series G (NASDAQ: ZIONO), Series I, and Series J.
This financial institution, with a history dating back to 1873, has established itself as a significant entity in the banking sector, particularly in the western United States. Zions Bancorporation operates a network of local banks in 11 states and has garnered recognition for its services in small to middle-market banking, public finance advisory, and Small Business Administration lending. With total assets around $87 billion as of 2023, the company is also a part of the S&P 400 and NASDAQ Financial 100 indices.
The declaration of these dividends follows Zions Bancorporation's reported 2023 net revenue of $3.1 billion, reflecting its financial stability and commitment to providing value to its shareholders. This information is based on a press release statement, which serves as the source for the details provided. As a standard practice in financial reporting, the dividends are subject to customary conditions and approvals. The announcement of dividends is a routine part of Zions Bancorporation's financial operations and shareholder relations.
InvestingPro Insights
Zions Bancorporation (NASDAQ: ZION) has continued to demonstrate its commitment to shareholder returns, boasting an impressive track record of raising its dividend for 11 consecutive years. The company's recent declaration of dividends aligns with its history of consistent dividend payments, a streak that has been maintained for 54 years. This dedication to shareholder value is reflected in the company's dividend yield, which stands at a robust 3.37% as of the second quarter of 2024.
InvestingPro data highlights that Zions Bancorporation has a market capitalization of $6.81 billion, with a Price/Earnings (P/E) ratio of 11.12, which is relatively stable compared to the adjusted P/E ratio of 11.14 for the last twelve months as of Q2 2024. Despite a slight decline in revenue growth of -5.14% over the same period, the company has experienced a large price uptick of 25.07% over the last six months, indicating investor confidence in its performance and future prospects.
InvestingPro Tips further reveal that analysts are optimistic about Zions Bancorporation's profitability, with 11 analysts having revised their earnings estimates upwards for the upcoming period. This is a notable indicator of potential growth and stability, as the company has also been profitable over the last twelve months. For investors seeking more in-depth analysis, there are additional InvestingPro Tips available for Zions Bancorporation, providing a comprehensive look at the company's financial health and future outlook.
To explore further insights and tips on Zions Bancorporation, including detailed financial metrics and analyst predictions, visit InvestingPro at https://www.investing.com/pro/ZION.
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