Northern Trust To Repurchase Up To $425 Mln Shares - Quick Facts

(RTTNews) - Northern Trust Corp. (NTRS) announced that it received no objections from the Federal Reserve to the proposed capital actions contained in its 2014 Capital Plan.

Northern Trust said its Capital Plan, which was approved by its Board of Directors prior to submission to the Federal Reserve, requested authority to increase its quarterly common stock dividend to $0.33 per share from $0.31 per share, effective in the second quarter of 2014. At its regular April meeting, Northern Trust's Board of Directors will consider formal approval of the planned dividend increase, which is expected to be payable July 1, 2014.

Also, Northern Trust's Capital Plan provides for the repurchase of up to $425 million of its common stock through the open market or in privately negotiated transactions between April 2014 and March 2015.