S&T Bancorp Announces Dividend Increase and New Buyback Plan

S&T Bancorp (STBA) has released an update.

S&T’s Board of Directors announced a $0.33 per share cash dividend, marking a 3.13 percent increase from the previous year, with a 3.89 percent annualized yield. It will be payable to shareholders on record as of February 8, with distribution set for February 22, 2024. Additionally, the Board initiated a new $50 million share repurchase plan to take effect immediately and run until May 30, 2025, replacing the existing one. The repurchase of shares will be conditional on market conditions and other factors, with no obligation to buy a specific number of shares.

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