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Ex-Dividend Reminder: SouthState, Truist Financial and Ameriprise Financial

By Preferred Stock Channel Staff, Tuesday, February 6, 10:11 AM ET
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On 2/8/24, SouthState Corp (NASDAQ:SSB), Truist Financial Corp (NYSE:TFC), and Ameriprise Financial Inc (NYSE:AMP) will all trade ex-dividend for their respective upcoming dividends. SouthState Corp will pay its quarterly dividend of $0.52 on 2/16/24, Truist Financial Corp will pay its quarterly dividend of $0.52 on 3/1/24, and Ameriprise Financial Inc will pay its quarterly dividend of $1.35 on 2/27/24.

As a percentage of SSB's recent stock price of $79.73, this dividend works out to approximately 0.65%, so look for shares of SouthState Corp to trade 0.65% lower — all else being equal — when SSB shares open for trading on 2/8/24. Similarly, investors should look for TFC to open 1.43% lower in price and for AMP to open 0.35% lower, all else being equal.

When an S&P 1500 component reaches 20 years of dividend increases, it becomes a contender to join the elite "Dividend Aristocrats" index. Ameriprise Financial Inc (NYSE:AMP) is a "future dividend aristocrats contender," with 18+ years of increases.

Below are dividend history charts for SSB, TFC, and AMP, showing historical dividends prior to the most recent ones declared.

SouthState Corp (NASDAQ:SSB):

Truist Financial Corp (NYSE:TFC):

Ameriprise Financial Inc (NYSE:AMP):

In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 2.61% for SouthState Corp, 5.74% for Truist Financial Corp, and 1.38% for Ameriprise Financial Inc.


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In Tuesday trading, SouthState Corp shares are currently off about 1.4%, Truist Financial Corp shares are off about 1.5%, and Ameriprise Financial Inc shares are off about 0.2% on the day.


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