other material
confidence high
sentiment positive
materiality 0.65
Fifth Third enters $300M accelerated share repurchase with Morgan Stanley
FIFTH THIRD BANCORP
- Repurchase of $300M of common stock under existing 100M-share program announced June 2019.
- Payment of $300M to Morgan Stanley on Oct 22, 2024; expects substantial majority of shares by same day.
- Final settlement on or before Dec 27, 2024; number of shares based on VWAP discount.
- Morgan Stanley may deliver additional shares or receive cash/payment at settlement; customary termination provisions apply.