Northern Trust Increases Quarterly Dividend by $0.02 to $0.30
Northern Trust Corporation (Nasdaq: NTRS) today declared a quarterly cash dividend of $0.30 per share on its common stock, payable on July 2, 2012, to stockholders of record as of June 8, 2012. Today's announced common stock dividend represents an increase of $0.02 per share from the $0.28 declared on January 17, 2012.
Northern Trust also announced that its Board of Directors has approved a new common stock repurchase authorization of 10 million shares. The new authorization replaces the Corporation's current common stock repurchase authorization.
As part of its Capital Plan Review, the Federal Reserve reviewed Northern Trust Corporation's capital plan and did not object to the Corporation's capital plan, including the increase in its quarterly dividend and the repurchase of up to $240 million of common stock through March 2013. The timing of the common stock repurchases and the exact number of shares repurchased through the authorization will depend on various factors, including Northern Trust's capital position, internal capital generation, market conditions, and other investment opportunities.
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