Northern Trust Announces Increased Quarterly Dividend and Stock Repurchase Authorization

CHICAGO--(BUSINESS WIRE)--

Northern Trust Corporation NTRS, holding company of The Northern Trust Company, has declared a quarterly cash dividend of $0.36 per share on its common stock ($1.66-2/3 par value), payable on July 1, 2015 to stockholders of record on June 5, 2015. The dividend represents a 9 percent increase from the prior quarterly rate of $0.33 per share, and will result in an expected annual dividend rate of $1.44, compared with the prior annual rate of $1.32.

Northern Trust also announced that its Board of Directors has approved a new common stock repurchase authorization of up to 15 million shares. The new repurchase authorization replaces the authorization approved on April 15, 2014. The method, timing, and amount of shares repurchased under the new repurchase authorization will depend on several factors, including market conditions, capital and liquidity requirements, and alternative uses for cash available.

"We are pleased to announce both a dividend increase and a new repurchase authorization, which demonstrate Northern Trust's strong capital position and conservative risk profile," Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said.

In addition to the common stock dividend and repurchase authorization, Northern Trust also announced that its Board of Directors has declared a quarterly cash dividend of $365.625 per share of 5.85% Series C non-cumulative perpetual preferred stock (resulting in a distribution of $0.365625 per depositary share) payable on July 1, 2015 to stockholders of record on June 15, 2015.

About Northern Trust

Northern Trust Corporation NTRS is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2014, Northern Trust had assets under custody of US$6 trillion, and assets under management of US$934 billion. For 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures.