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PHOENIX-based Western Alliance Bancorporation (NYSE:WAL), currently trading at $89.23 with a market capitalization of $9.73 billion, announced on Tuesday its decision to pay a quarterly cash dividend to its shareholders.
The company’s board of directors declared a dividend of $0.38 per share on common stock, payable on February 28, 2025, to shareholders of record as of February 14, 2025. According to InvestingPro, the bank has consistently raised its dividend for six consecutive years, demonstrating its commitment to shareholder returns.
In addition to the common stock dividend, Western Alliance will also distribute a quarterly cash dividend for its preferred stock. Shareholders of the 4.250% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, will receive a dividend of $106.25 per share, which equates to $0.265625 per depositary share. This dividend is scheduled for payment on March 30, 2025, to shareholders of record on March 15, 2025.
Western Alliance Bancorporation, a prominent player in the state commercial banks sector, has made this financial decision as part of its ongoing efforts to deliver value to its investors. The company operates under the SIC code 6022 and is incorporated in Delaware. With a current dividend yield of 1.71% and impressive revenue growth of 17.96% over the last twelve months, the bank continues to show strong operational performance.
The announcement of these dividends follows the company’s regular review of its financial position and commitment to providing returns to its investors. Trading at a P/E ratio of 12.39, InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which covers over 1,400 US stocks including Western Alliance.
This information is based on a press release statement and reflects the latest financial decisions by Western Alliance as reported in their SEC filing. The company’s common stock is traded on the New York Stock Exchange under the ticker symbol WAL, with its preferred stock also listed on the same exchange under the symbol WAL PrA. Investors seeking deeper insights can access additional ProTips and comprehensive financial metrics through InvestingPro.
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