UMB Financial Corporation Declares Quarterly Cash Dividend, Payable on April 3, 2017; Announces Board Changes
January 25, 2017 at 03:30 am IST
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UMB Financial Corporation at company's quarterly board meeting, the Board of Directors declared a $0.255 per share quarterly cash dividend, payable on April 3, 2017, to shareholders of record at the close of business on March 10, 2017.
The Directors Terrence P. Dunn and Nancy K. Buese have each separately provided notice to the company of his and her decision to not stand for re-election as a director at UMB Financial Corporation's 2017 Annual Shareholders' Meeting. Mr. Dunn, who previously retired from his position as Chief Executive Officer with J.E. Dunn Construction Group on December 31, 2014, has decided to retire from serving on the company's Board of Directors, including serving as Chair of the company's Corporate Governance and Nominating Committee, as of the date of the Annual Meeting and provided the company with written notice of his decision on January 23, 2017. Ms. Buese, who recently accepted a new position with Newmont Mining Corporation, provided written notice of her decision not to stand for re-election as a director and to resign from the company's Board of Directors, including serving as Chair of the Company's Audit Committee and a member of the company's Risk Committee, on January 20, 2017. Mr. Dunn and Ms. Buese have each indicated that their decision is not tied to any disagreement with the company or management of the company. Mr. Dunn and Ms. Buese each will complete their terms and will remain on the company's Board of Directors until the election of directors at the Annual Meeting.
UMB Financial Corporation is a financial services company. The Company offers commercial banking, which includes comprehensive deposit, lending and investment services, personal banking, which includes wealth management and financial planning services, and institutional banking, which includes asset servicing, corporate trust solutions, investment banking, and healthcare services. Its segments include Commercial Banking, which serves the commercial banking and treasury management needs of the Companyâs small to middle-market businesses through a range of products and services; Institutional Banking segment, which is a combination of banking services, fund services, asset management services and healthcare services provided to institutional clients, and Personal Banking segment that combines consumer banking and wealth management services offered to clients and delivered through personal relationships and its bank branches, automated teller machine (ATM) network and Internet banking.