First Commonwealth Financial Declares Quarterly Dividend
Ticker: FCF · Form: 8-K · Filed: Mar 28, 2024 · CIK: 712537
| Field | Detail |
|---|---|
| Company | First Commonwealth Financial CORP /Pa/ (FCF) |
| Form Type | 8-K |
| Filed Date | Mar 28, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: dividend, financial-results
Related Tickers: FCF
TL;DR
FCF is paying out $0.16/share dividend on April 15th, book April 1st.
AI Summary
First Commonwealth Financial Corp. (FCF) announced on March 27, 2024, that its Board of Directors has declared a quarterly cash dividend of $0.16 per share. This dividend is payable on April 15, 2024, to shareholders of record as of April 1, 2024. The company also reported its financial results for the period ending December 31, 2023.
Why It Matters
This dividend declaration indicates continued profitability and a commitment to returning value to shareholders, which can be a positive signal for investors.
Risk Assessment
Risk Level: low — The filing is a routine dividend declaration and financial reporting update, posing minimal new risk.
Key Numbers
- $0.16 — Quarterly Dividend Per Share (Amount being returned to shareholders)
Key Players & Entities
- First Commonwealth Financial Corp. (company) — Registrant
- $0.16 (dollar_amount) — Quarterly cash dividend per share
- April 15, 2024 (date) — Dividend payment date
- April 1, 2024 (date) — Record date for dividend
- December 31, 2023 (date) — End of financial reporting period
FAQ
What is the amount of the quarterly cash dividend declared by First Commonwealth Financial Corp.?
The quarterly cash dividend declared is $0.16 per share.
On what date will the declared dividend be paid?
The dividend will be paid on April 15, 2024.
Who are the shareholders eligible to receive this dividend?
Shareholders of record as of April 1, 2024, are eligible to receive the dividend.
What is the company's state of incorporation?
The company is incorporated in Pennsylvania (PA).
What is the IRS Employer Identification Number for First Commonwealth Financial Corp.?
The IRS Employer Identification Number is 25-1428528.
Filing Stats: 749 words · 3 min read · ~2 pages · Grade level 12.3 · Accepted 2024-03-28 15:02:18
Key Financial Figures
- $1.00 — ange on which registered Common Stock, $1.00 par value FCF New York Stock Exchange
Filing Documents
- fcf-20240327.htm (8-K) — 27KB
- 0000712537-24-000069.txt ( ) — 188KB
- fcf-20240327.xsd (EX-101.SCH) — 3KB
- fcf-20240327_def.xml (EX-101.DEF) — 15KB
- fcf-20240327_lab.xml (EX-101.LAB) — 27KB
- fcf-20240327_pre.xml (EX-101.PRE) — 16KB
- fcf-20240327_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events On or about March 15, 2024, First Commonwealth Financial Corporation (the "Company"), mailed a proxy statement (the "Proxy Statement") to its shareholders relating to the annual meeting of the Company's shareholders to be held on Tuesday, April 23, 2024, at 1:00 p.m. Eastern Time, virtually via live webcast through www.meetnow.global/MZLCTU7. The Proxy Statement included a proposal to approve the Company's adoption of a new 2024 Stock Plan (the "2024 Plan"). As disclosed in the Proxy Statement, the 2024 Plan will replace and supersede the Company's equity compensation plan, which was last approved by shareholders in 2015 (the "Prior Plan"). On or about March 26, 2024, Institutional Shareholder Services Inc. ("ISS") published a proxy analysis and vote recommendation for the Annual Meeting, which included an unfavorable recommendation from ISS with respect to the Company's adoption of the 2024 Plan. The unfavorable recommendation was based, in part, upon the assessment by ISS that the Company "has not provided a commitment to cease further grants under the Prior Plan until [the 2024 Plan is approved by shareholders] or that any grants of equity awards will count against the share reserve of the new plan." As a result, ISS included the approximately 1.835 million shares that remained available for issuance under the Prior Plan as of December 31, 2023 in the "Shareholder Value Transfer" component of its analysis. Although the Company disagrees with ISS' recommendation and methodology, to address this concern, the Company has amended Section 6.1 of the 2024 Plan to clarify that any awards granted by the Company under the Prior Plan between January 1, 2024 and the date of shareholder approval of the 2024 Plan will be deducted from the shares reserved for issuance under the 2024 Plan. As revised, the first sentence of Section 6.1 reads as follows: "Subject to adjustment as provided in Section 6.3 herein, the aggregate number of Shares available
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits Exhibits 101 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 28, 2024 FIRST COMMONWEALTH FINANCIAL CORPORATION By: /s/ James R. Reske Name: James R. Reske Title: Executive Vice President, Chief Financial Officer and Treasurer