Business Context and Reporting Period
Company: Old National Bancorp
Filing Type: Form 8-K (Current Report)
Date of Report: February 19, 2025
Reporting Period: This filing reports specific corporate actions announced on February 19, 2025, rather than a financial reporting period.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, debt, or liquidity metrics. It focuses exclusively on capital allocation decisions.
Material Changes and Corporate Actions
- Common Stock Dividend: The Board declared a quarterly cash dividend of $0.14 per share.
- Record Date: March 5, 2025
- Payment Date: March 17, 2025
- Preferred Stock Dividends: The Board declared quarterly cash dividends on Series A (ONBPP) and Series C (ONBPO) preferred stock.
- Rate: $17.50 per share (equivalent to $0.4375 per depositary share).
- Record Date: May 5, 2025
- Payment Date: May 20, 2025
- Stock Repurchase Program: The Board approved a new authorization to repurchase up to $200 million of common stock.
- Duration: Effective until February 28, 2026.
- Method: Open market, privately negotiated transactions, or accelerated share repurchase programs.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, management commentary on future performance, or specific risk factors. The document serves solely to disclose the dividend declarations and the new share repurchase authorization.
Investor Verification Checklist
- Verify the ex-dividend dates for common and preferred stock to determine eligibility for the declared dividends.
- Monitor future 8-K filings or quarterly reports for the execution volume and timing of the $200 million stock repurchase program.
- Confirm the total number of outstanding shares to calculate the aggregate cash outflow for the declared dividends.