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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 19, 2020 (February 19, 2020)
BankUnited, Inc.
(Exact name of registrant as specified in its charter)
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Delaware | | 001-35039 | | 27-0162450 |
(State of Incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
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14817 Oak Lane, | Miami Lakes, | FL | | 33016 |
(Address of principal executive offices) | (Zip Code) |
(Registrant’s telephone number, including area code): (305) 569-2000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Class | | Trading Symbol | | Name of Exchange on Which Registered |
Common Stock, $0.01 Par Value | | BKU | | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
Item 7.01 Regulation FD Disclosure.
On February 19, 2020, BankUnited, Inc. (the “Company”) issued a press release announcing that the Company has declared a quarterly cash dividend of $0.23 per common share. The dividend will be payable on April 30, 2020 to stockholders of record as of the close of business on April 14, 2020.
Additionally, the Company reported an update on its share repurchase program.
A copy of the Company’s press release containing this information is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit Number | | Description |
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| | | February 19, 2020 |
104 | | The cover page from this Current Report on From 8-K formatted in Inline XBRL (included as Exhibit 101) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Dated: | February 19, 2020 | BANKUNITED, INC. |
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| | /s/ Leslie N. Lunak |
| | Name: | Leslie N. Lunak |
| | Title: | Chief Financial Officer |
Exhibit
Contact:
Corporate Communications:
Donna Crump-Butler
305-231-6707
DButler@BankUnited.com
BankUnited, Inc. Announces 10 Percent Increase in Quarterly Dividend and Provides Share Repurchase Program Update
Miami Lakes, Fla. - February 19, 2020 - BankUnited, Inc. (NYSE:BKU), (the “Company”) today announced that its Board of Directors has declared a quarterly cash dividend of $0.23 per common share, reflecting a 10% increase from the previous quarterly cash dividend of $0.21 per common share. The dividend will be payable on April 30, 2020 to stockholders of record at the close of business on April 14, 2020.
For the period Jan 1, 2020 through February 14, 2020, the Company repurchased 1,048,414 shares of its outstanding common stock for an aggregate purchase price of approximately $35.4 million, at a weighted average price of $33.74 per share. To date, under the $150 million purchase program authorized by its Board of Directors in September 2019, the Company has repurchased 1,171,590 shares of its outstanding common stock for an aggregate purchase price of approximately $39.4 million, at a weighted average price of $33.63 per share.
“Through our dividend policy and share repurchase program, we remain committed to prudently managing shareholder capital,” said Rajinder P. Singh, Chairman, President and Chief Executive Officer of BankUnited, Inc.
About BankUnited, Inc.
BankUnited, Inc. (NYSE: BKU), with total assets of $32.9 billion at December 31, 2019, is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida with banking centers in Florida and New York metropolitan area. For additional information, call (877) 779-2265 or visit www.BankUnited.com. BankUnited can be found on Facebook at facebook.com/BankUnited.official and on Twitter @BankUnited.