Fulton Financial declares special cash dividend, extends repurchase timeframe
Fulton Financial announced that its Board of Directors has authorized the payment of a special cash dividend of two cents per share on its common stock.The special dividend is payable on December 15, 2016, to shareholders of record as of December 2, 2016. Fulton paid quarterly cash dividends of nine cents per share in each of the first and second quarters of 2016 and ten cents per share in each of the two subsequent quarters in 2016. The Board of Directors is expected to consider the next quarterly cash dividend at its December meeting. Fulton also announced that its Board of Directors has extended the timeframe for its stock repurchase program, announced in October 2015, from December 31, 2016, to December 31, 2017. The stock repurchase program authorizes Fulton to repurchase up to an aggregate of $50 million of Fulton's outstanding common stock. To date, approximately $18.5 million of Fulton's common stock has been repurchased under the repurchase program, with a remaining authorization of up to $31.5 million of common stock that may be repurchased under the program through December 31, 2017.