First Citizens Sets Dec. 15 Payment for $0.335938 Series A Depositary Share Dividend

The board of First Citizens BancShares, Inc. declared a quarterly dividend of $0.335938 per Series A depositary share, setting a Dec. 15 payment for holders of record Nov. 30.

The dividend applies to the company’s 5.375% non-cumulative perpetual preferred stock. The depositary-share payment equals $13.4375 for each underlying preferred share.

Each depositary share represents a 1/40 interest in one Series A preferred share and trades on Nasdaq under ticker FCNCP. The board declared the same per-share amount in July for payment Sept. 15 to holders of record Aug. 31.

First Citizens also set a separate dividend on its common shares, payable Dec. 15 to holders of record Nov. 30. The common-share dividend was part of the company’s Oct. 23 dividend announcements.

Series A dividends are payable quarterly only when declared by the board. Because they are non-cumulative, dividends that are not declared do not accumulate. The next payment is scheduled for Dec. 15.