Atlantic Union Bankshares Co. Declares Quarterly Dividend of $0.37 (NYSE:AUB)

Key Points

• Atlantic Union Bankshares declared a quarterly dividend of $0.37 per share, payable on August 21 to shareholders of record as of August 7. The dividend implies an annualized yield of about 3.5%.
• The company has increased its dividend for 14 straight years, with a payout ratio of 38.5%, suggesting the dividend is well covered by earnings. Analysts expect next year’s payout ratio to remain manageable at 36.8%.
• Atlantic Union Bankshares also reported better-than-expected quarterly earnings of $0.94 per share, beating estimates by $0.02, while revenue rose 3.1% year over year. Shares were up slightly in trading following the update.

Atlantic Union Bankshares Co. (NYSE:AUB - Get Free Report) declared a quarterly dividend on Thursday, July 23rd. Shareholders of record on Friday, August 7th will be given a dividend of 0.37 per share on Friday, August 21st. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, August 7th.

Atlantic Union Bankshares has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Atlantic Union Bankshares has a payout ratio of 38.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Atlantic Union Bankshares to earn $4.02 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 36.8%.

Atlantic Union Bankshares Stock Up 0.7%

Shares of NYSE AUB traded up $0.28 during mid-day trading on Friday, reaching $42.45. 245,253 shares of the company traded hands, compared to its average volume of 1,122,755. The company's fifty day moving average is $39.90 and its two-hundred day moving average is $38.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.92 and a current ratio of 0.93. Atlantic Union Bankshares has a fifty-two week low of $30.39 and a fifty-two week high of $43.62. The stock has a market cap of $6.07 billion, a PE ratio of 12.68 and a beta of 0.79.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) last posted its earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.02. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.The firm had revenue of $387.57 million during the quarter, compared to analyst estimates of $389.06 million. During the same period in the previous year, the company earned $0.95 EPS. The company's revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts expect that Atlantic Union Bankshares will post 3.75 earnings per share for the current year.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.

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