Company: HBAN
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000049196-25-000038
Chunk: 83

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 83
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 included in the federal consolidated tax return, fees for services provided to subsidiaries, and the issuance of debt securities.

The parent company had cash and cash equivalents of $3.8 billion and $4.1 billion at March 31, 2025 and December 31, 2024, respectively.

24     Huntington Bancshares Incorporated

On April 16, 2025, our Board of Directors declared a quarterly cash dividend on our common stock of $0.155 per common share. The common stock dividend is payable on July 1, 2025, to shareholders of record on June 17, 2025. Based on the current quarterly dividend of $0.155 per common share, cash demands required for common stock dividends are estimated to be approximately $226 million per quarter. Additionally, on April 16, 2025, our Board of Directors declared quarterly Series B, F, G, H, and J preferred stock dividends payable on July 15, 2025 to shareholders of record on July 1, 2025. On March 31, 2025, our Board of Directors declared a quarterly dividend for the Series I preferred stock payable on June 2, 2025 to shareholders of record on May 15, 2025. Total cash demands required for preferred stock dividends are expected to be approximately $27 million per quarter. 

During the first three months of 2025, the Bank paid common and preferred dividends to the parent company of $125 million and $11 million, respectively. To meet any additional liquidity needs, the parent company may issue debt or equity securities. To support the parent company’s ability to issue debt or equity securities, we have filed an automatic registration statement with the SEC covering an indeterminate amount or number of securities to be offered or sold from time to time as authorized by Huntington’s Board of Directors.

As of March 31, 2025, we believe the Company has sufficient liquidity and capital resources to meet its cash flow obligations over the next 12 months and for the foreseeable future.

Credit Ratings

Credit ratings represent evaluations by rating agencies based on a number of factors, including financial strength and the ability to generate earnings, as well as factors not entirely within our control, including conditions affecting the financial services industry, the economy, and changes in rating methodologies. Credit ratings are subject to change at any time. Our credit ratings impact our availability and cost of financing, as well as collateral requirements for certain derivative instruments and deposit products. A downgrade to our credit ratings could