City National Corporation declares preferred stock dividends

PUBLISHED: 19 Jul 2015 @ 20:14 | Comments (0) |

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City National Corporation (NYSE:CYN) today announced that it has declared cash dividends on its outstanding series of preferred stock.

A quarterly cash dividend of $13.75 per share was declared on its 5.50% Non-Cumulative Perpetual Preferred Stock, Series C (equivalent to $0.34375 per related depositary share), payable on August 13, 2015 to shareholders of record on July 28, 2015.

A quarterly cash dividend of $16.875 per share was declared on its 6.750% Fixed Rate/Floating Rate Non-Cumulative Preferred Stock, Series D (equivalent to $0.421875 per related depositary share), payable on August 7, 2015 to shareholders of record on July 28, 2015.

City National Corporation has $32.7 billion in assets. The company’s wholly owned subsidiary, City National Bank, provides banking, investment and trust services through 75 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta. City National and its investment affiliates manage or administer $62.0 billion in client investment assets, including $48.4 billion under direct management.

On January 22, 2015, City National announced plans to merge with Royal Bank of Canada. The transaction is expected to close later this year, pending regulatory approval and other customary closing conditions.

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