Amsouth (NYSE:ASO)
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The Board of Directors of AmSouth Bancorporation (NYSE:ASO) announced
today that the next company dividend, expected to be paid in the first
quarter of 2007, will be declared by the board of the new Regions
Financial Corporation as a result of approval of the pending merger by
shareholders of both companies on Oct. 3, 2006. Pending customary
regulatory approvals, the transaction is expected to close in November
2006.
“Our shareholders can expect their next
dividend to be paid by Regions, which at their current quarterly rate of
$0.35 would represent, on an exchange-adjusted basis, a 7.3 percent
increase over the current AmSouth rate,” said
Dowd Ritter, AmSouth’s chairman, president,
and chief executive officer. “We expect the
dividend declaration to be structured so that dividend payments to
shareholders are uninterrupted,” Ritter said.
AmSouth holds Mergent’s “Dividend
Achiever” designation for its record of
increasing dividends for 35 consecutive years, an honor accorded just 3
percent of U.S.-listed, dividend-paying publicly traded companies.
AmSouth also was named to Forbes magazine’s
Platinum 400 list, a prestigious ranking of the best big companies in
America.
Regions has paid and increased its dividends for 35 consecutive years as
well, going back to its formation in 1971. Regions has been recognized
for its long history of consecutive annual dividend increases as well as
its dividend yield, currently approximating 3.7 percent, and by being
included in the Dow Jones Select Dividend Index.
About AmSouth
AmSouth is a regional bank holding company with $54 billion in assets,
700 branch banking offices and more than 1,200 ATMs. AmSouth operates in
Florida, Tennessee, Alabama, Mississippi, Louisiana and Georgia. AmSouth
is a leader among regional banks in the Southeast in several key
business segments, including consumer and commercial banking, small
business banking, mortgage lending, equipment leasing, and trust and
investment management services. AmSouth also offers a complete line of
banking products and services at its web site, www.amsouth.com.
The Board of Directors of AmSouth Bancorporation (NYSE:ASO)
announced today that the next company dividend, expected to be paid in
the first quarter of 2007, will be declared by the board of the new
Regions Financial Corporation as a result of approval of the pending
merger by shareholders of both companies on Oct. 3, 2006. Pending
customary regulatory approvals, the transaction is expected to close
in November 2006.
"Our shareholders can expect their next dividend to be paid by
Regions, which at their current quarterly rate of $0.35 would
represent, on an exchange-adjusted basis, a 7.3 percent increase over
the current AmSouth rate," said Dowd Ritter, AmSouth's chairman,
president, and chief executive officer. "We expect the dividend
declaration to be structured so that dividend payments to shareholders
are uninterrupted," Ritter said.
AmSouth holds Mergent's "Dividend Achiever" designation for its
record of increasing dividends for 35 consecutive years, an honor
accorded just 3 percent of U.S.-listed, dividend-paying publicly
traded companies. AmSouth also was named to Forbes magazine's Platinum
400 list, a prestigious ranking of the best big companies in America.
Regions has paid and increased its dividends for 35 consecutive
years as well, going back to its formation in 1971. Regions has been
recognized for its long history of consecutive annual dividend
increases as well as its dividend yield, currently approximating 3.7
percent, and by being included in the Dow Jones Select Dividend Index.
About AmSouth
AmSouth is a regional bank holding company with $54 billion in
assets, 700 branch banking offices and more than 1,200 ATMs. AmSouth
operates in Florida, Tennessee, Alabama, Mississippi, Louisiana and
Georgia. AmSouth is a leader among regional banks in the Southeast in
several key business segments, including consumer and commercial
banking, small business banking, mortgage lending, equipment leasing,
and trust and investment management services. AmSouth also offers a
complete line of banking products and services at its web site,
www.amsouth.com.