FNB boosts dividend 8% and adds $250 million buyback plan

F.N.B. Corporation announced an 8% increase to its quarterly cash dividend and a new $250 million share repurchase program, signaling confidence in its sustained financial strength.

"These actions reflect our continued strong financial performance and commitment to delivering shareholder value," said Vincent J. Delie, Jr., Chairman, President and CEO of F.N.B. Corporation. "We believe our consistent earnings power and strong capital position allow us to enhance shareholder returns while continuing to invest in growth."

The new quarterly common stock cash dividend is 13 cents per share, an increase from 12 cents. The authorization of a new $250 million share repurchase program follows the company's successful completion of its $150 million share repurchase program announced in 2023. The number of shares to be repurchased will be based on market conditions.

The dual return of capital signals management's confidence in future earnings. The buyback will reduce shares outstanding, boosting earnings per share, while the dividend hike increases direct returns to investors. F.N.B. Corporation, a diversified financial services company with approximately $46 billion in assets, has a history of consistent dividend payments.

The company's capital deployment strategy is expected to be well-received by the market. Investors will be watching for the impact on the stock's valuation and the execution of the buyback program over the coming quarters.

This article is for informational purposes only and does not constitute investment advice.