RADNOR, PA — In a move sure to please its investors, Lincoln Financial Group (NYSE: LNC) has revealed that its board of directors has declared dividends on the company’s preferred stock. The announcement comes as the Delaware County-based insurance and investment management firm continues to demonstrate its commitment to delivering shareholder value.
The first dividend pertains to the corporation’s 9.250% Fixed Rate Reset Non-Cumulative Preferred Stock, Series C. A semi-annual dividend of $1,156.25 per share has been declared on this stock, which carries a liquidation preference of $25,000 per share. It is represented by depositary shares, each of which stands for a 1/25th interest in a share of the preferred stock. Consequently, holders of these depositary shares can expect to receive $46.25 per depositary share.
The second dividend is related to the corporation’s 9.000% Non-Cumulative Preferred Stock, Series D. This stock also has a liquidation preference of $25,000 per share. A quarterly dividend of $562.50 per share has been announced. Each depositary share represents a 1/1,000th interest in a share of the preferred stock, and holders will receive $0.5625 per depositary share.
Both dividends will be payable on March 1, 2024, to holders of record as of February 15, 2024. For those considering investing in Lincoln Financial Group, the ex-dividend date—after which any new shareholders are not entitled to the upcoming dividend—will be February 14, 2024.
These dividends reflect Lincoln Financial Group’s robust financial health and its ongoing dedication to returning capital to shareholders. The firm’s ability to consistently offer these payments underscores its strong business model and disciplined financial management.
Investors are likely to welcome this news, as regular dividend payments can provide a steady income stream, particularly in uncertain market conditions. Lincoln Financial Group’s commitment to its dividend policy also signals confidence in its long-term growth strategy and ability to generate stable earnings.
As the company continues to navigate the ever-evolving financial landscape, its focus on rewarding shareholders remains unwavering. This latest dividend declaration reinforces Lincoln Financial Group’s reputation as a reliable player in the insurance and investment management sector, making it an attractive prospect for investors seeking consistent returns.
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