Hibernia Declares Quarterly Cash Dividend of 20 Cents Per Common Share
27 October 2005 - 2:40AM
Business Wire
Hibernia Corporation's (NYSE:HIB) board of directors today declared
a quarterly cash dividend of 20 cents per common share, payable
Nov. 15, 2005, to shareholders of record Nov. 7, 2005. Based on
yesterday's closing price of Hibernia's common stock, the new
dividend yield is 2.76%. Hibernia's merger into Capital One
Financial Corporation is scheduled to close two business days
following the Nov. 14, 2005, special meeting of Hibernia
shareholders to vote upon the amended merger agreement. The merger
is subject to Hibernia shareholders' approval of the amended
agreement and the effectiveness of all necessary regulatory
approvals. Hibernia is on Forbes magazine's list of the world's
2,000 largest companies and Fortune magazine's list of America's
top 1,000 companies according to annual revenue. Hibernia has $23.2
billion in assets and 326 locations in 34 Louisiana parishes and 36
Texas counties. Hibernia Corporation's common stock (HIB) is listed
on the New York Stock Exchange. Additional Information About the
Capital One Transaction In connection with the proposed merger,
Capital One has filed with the SEC a post-effective amendment to
its Registration Statement on Form S-4 that includes a new proxy
statement of Hibernia that also constitutes a prospectus of Capital
One, and has filed a definitive proxy statement/prospectus with the
SEC. Hibernia has mailed the definitive proxy statement/prospectus
to its stockholders. Investors and security holders are urged to
read the definitive proxy statement/prospectus regarding the
proposed merger, because it contains important information. You may
obtain a free copy of the definitive proxy statement/prospectus and
other related documents filed by Capital One and Hibernia with the
SEC at the SEC's website at http://www.sec.gov. The definitive
proxy statement/prospectus and the other documents also may be
obtained for free by accessing Capital One's website at
http://www.capitalone.com under the tab "Investors" and then under
the heading "SEC & Regulatory Filings" or by accessing the SEC
homepage at www.SEC.gov. Capital One, Hibernia and their respective
directors, executive officers and certain other members of
management and employees may be soliciting proxies from Hibernia
stockholders in favor of the merger. Information regarding the
persons who may, under the rules of the SEC, be considered
participants in the solicitation of the Hibernia stockholders in
connection with the proposed merger is set forth in the definitive
proxy statement/prospectus filed with the SEC. You can find
information about Capital One's executive officers and directors in
its definitive proxy statement filed with the SEC on March 21,
2005. You can find information about Hibernia's executive officers
and directors in its definitive proxy statement filed with the SEC
on March 15, 2005. You can obtain free copies of these documents
from Capital One and Hibernia using the contact information above.
Forward-looking statements Information in this press release
contains forward-looking statements, which involve a number of
risks and uncertainties. Any forward-looking information is not a
guarantee of future performance and the actual results could differ
materially from those contained in the forward-looking information.
Among the factors that could cause actual results to differ
materially are the following: the impact of property, credit and
other losses expected as the result of Hurricane Katrina and
Hurricane Rita; the amount of government, private and philanthropic
investment, including deposits, in the geographic regions impacted
by Hurricane Katrina and Hurricane Rita; the pace and magnitude of
economic recovery in the region impacted by Hurricane Katrina and
Hurricane Rita; the potential impact of damages from future
hurricanes and other storms; an increase or decrease in credit
losses (including increases due to a worsening of general economic
conditions); financial, legal, regulatory or accounting changes or
actions; changes in interest rates; general economic conditions
affecting consumer income, spending, repayments and savings; the
amount of, and rate of growth in, Hibernia's expenses (including
salaries and associate benefits and marketing expenses); Hibernia's
ability to execute on its strategic and operational plans; the
costs and effects of litigation and of unexpected or adverse
outcomes in such litigation; continued intense competition from
numerous providers of products and services which compete with
Hibernia's business; the risk that Hibernia stockholders may not
approve the proposed transaction with Capital One Financial
Corporation; and various risks associated with the proposed Capital
One transaction in the event Hibernia's shareholders approve the
transaction and it is completed, including: the ability of Capital
One and Hibernia to recruit and retain experienced personnel to
assist in management and operations; the risk that the businesses
of Capital One and Hibernia will not be integrated successfully;
the risk that the cost savings and any other synergies from the
proposed transaction may not be fully realized or may take longer
to realize than expected; disruption from the proposed transaction
making it more difficult to maintain relationships with customers,
employees or suppliers; and other risk factors listed from time to
time in Hibernia's SEC reports, including, but not limited to, the
Quarterly Report on Form 10-Q for the quarter ended June 30, 2005.
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