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Old National Bancorp Announces Quarterly Dividends and Stock Repurchase Program

1. Old National Bancorp announced a quarterly cash dividend of $0.14 per share. 2. A $200 million stock repurchase program was approved by the Board of Directors. 3. Dividends for preferred stock series A and C were also declared. 4. The stock buyback peut potentially enhance share value in the market. 5. Old National was recognized as one of 'The Civic 50' for community engagement.

Shares Buyback
-1.36%Current Return
VS
-0.39%S&P 500
$24.302/19 04:30 PM EDTEvent Start
$23.9702/20 11:01 PM EDTLatest Updated
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FAQ

Why Bullish?

The stock repurchase program typically signals confidence and can boost share prices, similar to past stock buybacks at successful banks, which often lead to positive market reactions.

How important is it?

The dividend declaration and stock repurchase are significant for investors; they reflect financial health and shareholder value focus, potentially influencing price and investor sentiment.

Why Short Term?

The immediate effect of the stock buyback could drive prices up quickly, but longer-term effects depend on subsequent financial performance.

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ONBPPONBPO
EVANSVILLE, Ind., Feb. 19, 2025 (GLOBE NEWSWIRE) -- (NASDAQ: ONB) – Old National Bancorp (the “Company” or “Old National”) today announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share on the Company’s outstanding shares of common stock. This quarterly cash dividend will be payable on March 17, 2025, to shareholders of record as of the close of business on March 5, 2025. In addition, the Board of Directors declared a quarterly cash dividend of $17.50 per share (equivalent to $0.4375 per depositary share or 1/40th interest per share) on Old National’s 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: ONBPP) and Series C (NASDAQ: ONBPO). The dividends are payable on May 20, 2025, to shareholders of record as of the close of business on May 5, 2025. The Company also announced today that its Board of Directors approved a stock repurchase program which authorizes the repurchase of up to $200 million of the Company’s common stock. Share repurchases under this program may be made from time to time on the open market, in privately negotiated transactions or through accelerated share repurchase programs in the discretion of, and at prices to be determined by, the Company. The program will be in effect until February 28, 2026. ABOUT OLD NATIONAL Old National Bancorp is the holding company of Old National Bank. As the sixth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $54 billion of assets and $30 billion of assets under management, Old National ranks among the top 30 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com. In 2024, Points of Light named Old National one of "The Civic 50" - an honor reserved for the 50 most community-minded companies in the United States. Investor Relations:Lynell Durchholz(812) 464-1366lynell.durchholz@oldnational.com Media Relations:Rick Vach(904) 535-9489rick.vach@oldnational.com

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