Old National Raises Qtr. Dividend from $0.09 to $0.10/Share; Announces 2M Share Buyback plan
Old National Bancorp's (NYSE: ONB) Board of Directors declared an increase in its quarterly common stock dividend to $.10 per share on the Company's outstanding shares. This new dividend level represents an 11.1% increase over the previous cash dividend level of $.09 per common share. The dividend is payable March 15, 2013, to shareholders of record on March 1, 2013. For purposes of broker trading, the ex-date of the cash dividend is February 27, 2013.
Old National also announced that its Board of Directors has approved a plan to repurchase, as conditions warrant, up to 2.0 million shares of Old National Bancorp common stock through January 31, 2014. These shares may be purchased from time to time in either the open market or in privately negotiated transactions, in accordance with SEC regulations.
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