Huntington Bancshares Raises Series A Preferred Dividend 25% to $1.72 Per Share

Huntington Bancshares Inc (NASDAQ: HBAN), a regional banking company, has declared total cash dividends of $1.72 per share on its 5.50% Series A Non-Cumulative Perpetual Preferred Stock for 2025, representing a 25% increase from the $1.38 per share paid in each of the prior two years. The total payout amounts to $11.9 million for the year. Read more dividend announcements.

The 2025 dividend includes a special dividend of $0.34 per share that was paid during the second quarter, supplementing the regular quarterly distributions. The regular quarterly dividends are payable on February 20, May 20, August 20, and November 20.

Holders of the Series A Preferred Stock receive non-cumulative cash dividends based on a liquidation preference of $25 per share, paid at an annual rate of 5.50%. The company's board of directors declared the dividends for all 6.9 million shares of Series A Preferred Stock outstanding, which were issued in November 2019 at an aggregate liquidation preference of $172.5 million.

Dividend Payment Details

The Series A Preferred Stock is not subject to mandatory redemption or sinking fund provisions. Huntington Bancshares may redeem shares at its option, subject to regulatory requirements, at a redemption price equal to $25 per share plus any declared and unpaid dividends. The company received net proceeds of $167.0 million from the initial offering after deducting underwriting discounts and expenses.

Income Tax Position

The company reported income tax expense of $151.2 million for the year ended December 31, 2025, compared to $152.6 million in 2024 and a tax benefit of $4.6 million in 2023. Current federal tax expense totaled $12.8 million, while deferred federal tax expense was $117.4 million.

Huntington Bancshares had an income tax receivable of $100.9 million at December 31, 2025, compared to a receivable of $18.5 million at year-end 2024 and a payable of $10.0 million at year-end 2023.