Northern Trust Corporation (Nasdaq: NTRS) today declared a quarterly cash dividend of $0.31 per share on its common stock, payable on July 1, 2013, to stockholders of record as of 5:00 p.m. CST, June 7, 2013. Today's announced common stock dividend represents an increase of $0.01 per share from the $0.30 declared on January 15, 2013.
Northern Trust also announced that its Board of Directors has approved a new common stock repurchase authorization of 12 million shares. The new authorization replaces the Corporation's current common stock repurchase authorization. The timing of the common stock repurchases and the exact number of shares repurchased through the authorization will depend on various factors, including Northern Trust's capital position, internal capital generation, market conditions, and other investment opportunities.
"Northern Trust continues to have a strong capital position, focused business model and conservative risk profile, and we are pleased to provide shareholders with a dividend increase as part of our capital plan," Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2013, Northern Trust had assets under custody of US$5.0 trillion, and assets under investment management of US$810.2 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com or follow us on Twitter @NorthernTrust.