AmSouth Announces Next Dividend to be Paid by Regions Financial Corp. as a Result of Merger
20 Oktober 2006 - 12:12AM
Business Wire
The Board of Directors of AmSouth Bancorporation (NYSE:ASO)
announced today that the next company dividend, expected to be paid
in the first quarter of 2007, will be declared by the board of the
new Regions Financial Corporation as a result of approval of the
pending merger by shareholders of both companies on Oct. 3, 2006.
Pending customary regulatory approvals, the transaction is expected
to close in November 2006. �Our shareholders can expect their next
dividend to be paid by Regions, which at their current quarterly
rate of $0.35 would represent, on an exchange-adjusted basis, a 7.3
percent increase over the current AmSouth rate,� said Dowd Ritter,
AmSouth�s chairman, president, and chief executive officer. �We
expect the dividend declaration to be structured so that dividend
payments to shareholders are uninterrupted,� Ritter said. AmSouth
holds Mergent�s �Dividend Achiever� designation for its record of
increasing dividends for 35 consecutive years, an honor accorded
just 3 percent of U.S.-listed, dividend-paying publicly traded
companies. AmSouth also was named to Forbes magazine�s Platinum 400
list, a prestigious ranking of the best big companies in America.
Regions has paid and increased its dividends for 35 consecutive
years as well, going back to its formation in 1971. Regions has
been recognized for its long history of consecutive annual dividend
increases as well as its dividend yield, currently approximating
3.7 percent, and by being included in the Dow Jones Select Dividend
Index. About AmSouth AmSouth is a regional bank holding company
with $54 billion in assets, 700 branch banking offices and more
than 1,200 ATMs. AmSouth operates in Florida, Tennessee, Alabama,
Mississippi, Louisiana and Georgia. AmSouth is a leader among
regional banks in the Southeast in several key business segments,
including consumer and commercial banking, small business banking,
mortgage lending, equipment leasing, and trust and investment
management services. AmSouth also offers a complete line of banking
products and services at its web site, www.amsouth.com. The Board
of Directors of AmSouth Bancorporation (NYSE:ASO) announced today
that the next company dividend, expected to be paid in the first
quarter of 2007, will be declared by the board of the new Regions
Financial Corporation as a result of approval of the pending merger
by shareholders of both companies on Oct. 3, 2006. Pending
customary regulatory approvals, the transaction is expected to
close in November 2006. "Our shareholders can expect their next
dividend to be paid by Regions, which at their current quarterly
rate of $0.35 would represent, on an exchange-adjusted basis, a 7.3
percent increase over the current AmSouth rate," said Dowd Ritter,
AmSouth's chairman, president, and chief executive officer. "We
expect the dividend declaration to be structured so that dividend
payments to shareholders are uninterrupted," Ritter said. AmSouth
holds Mergent's "Dividend Achiever" designation for its record of
increasing dividends for 35 consecutive years, an honor accorded
just 3 percent of U.S.-listed, dividend-paying publicly traded
companies. AmSouth also was named to Forbes magazine's Platinum 400
list, a prestigious ranking of the best big companies in America.
Regions has paid and increased its dividends for 35 consecutive
years as well, going back to its formation in 1971. Regions has
been recognized for its long history of consecutive annual dividend
increases as well as its dividend yield, currently approximating
3.7 percent, and by being included in the Dow Jones Select Dividend
Index. About AmSouth AmSouth is a regional bank holding company
with $54 billion in assets, 700 branch banking offices and more
than 1,200 ATMs. AmSouth operates in Florida, Tennessee, Alabama,
Mississippi, Louisiana and Georgia. AmSouth is a leader among
regional banks in the Southeast in several key business segments,
including consumer and commercial banking, small business banking,
mortgage lending, equipment leasing, and trust and investment
management services. AmSouth also offers a complete line of banking
products and services at its web site, www.amsouth.com.
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