WHEELING, W.Va., Nov. 15,
2023 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a
diversified, multi-state bank holding company, announced today that
its Board of Directors has approved a 2.9% increase in the
quarterly cash dividend to $0.36 per
common share from the previous quarterly dividend of $0.35 per common share. The higher dividend
rate will be payable on January 2,
2024 to shareholders of record on December 8, 2023. This is the seventeenth
increase in the quarterly dividend since 2010, and represents a
cumulative increase of 157% over that period.
The WesBanco Board of Directors approved this most recent cash
dividend increase based in part on the Company's strong capital
position and net income. The new cash dividend represents an
annualized cash dividend rate of $1.44 per common share. Based upon
yesterday's closing common stock price of $27.57, the new dividend equates to a yield of
approximately 5.2%.
About WesBanco, Inc.
Founded in 1870, Wesbanco, Inc. is a diversified and balanced
financial services company that delivers large bank capabilities
with a community bank feel. Our distinct long-term growth
strategies are built upon unique sustainable advantages permitting
us to span six states with meaningful market share. The company's
banking subsidiary, Wesbanco Bank, Inc., operates more than 190
financial centers in the states of Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and West Virginia. Built upon our 'Better Banking
Pledge', our customer-centric service culture is focused on growing
long-term relationships by pledging to serve all personal and
business customer needs efficiently and effectively. In addition to
a full range of online and mobile banking options and a full-suite
of commercial products and services, the company provides trust,
wealth management, securities brokerage, and private banking
services through its century-old Trust and Investment Services
department, with approximately $5.0
billion of assets under management (as of September 30, 2023). The company also offers
insurance and brokerage services through its affiliates and
subsidiaries. Learn more at www.wesbanco.com and follow us on
Facebook, LinkedIn and X, formerly Twitter.
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SOURCE WesBanco, Inc.