RADNOR, PA — Lincoln Financial Group (NYSE: LNC) has announced that its board of directors has declared dividends on two of its preferred stock series.
Holders of the corporation’s 9.250% Fixed Rate Reset Non-Cumulative Preferred Stock, Series C, will receive a semi-annual dividend of $1,156.25 per share. These shares have a $25,000 liquidation preference per share and are represented by depositary shares, with each depositary share representing a 1/25th interest in a share of the preferred stock. This translates to a payout of $46.25 per depositary share.
Additionally, a quarterly dividend of $562.50 per share has been declared on the corporation’s 9.000% Non-Cumulative Preferred Stock, Series D. These shares also have a $25,000 liquidation preference per share and are represented by depositary shares, each representing a 1/1,000th interest in a share of the preferred stock. This results in a payout of $0.5625 per depositary share (NYSE: LNC PRD).
The dividends will be payable on September 1, 2024, to shareholders of record as of August 15, 2024. The ex-dividend date is set for August 14, 2024.
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