Truist raises capital with $500M preferred stock offering, restricts common dividends if preferred unpaid

Filed May 15, 2026 · Period ending May 13, 2026 · ~1 min read

Key Changes

• high

  Truist issued 500,000 depositary shares of new 6.250% Series S preferred stock on May 15, 2026, raising approximately $500 million. Each depositary share represents 1/25th interest in perpetual preferred stock with $1,000 liquidation preference.

  Item 3.03, 5.03 verify on EDGAR →
• high

  If Truist skips preferred dividends, it cannot pay common stock dividends or repurchase common shares until preferred dividends resume. This creates a payment hierarchy that protects preferred holders but could limit common shareholder returns during financial stress.

  Item 3.03 verify on EDGAR →
• medium

  The offering was underwritten by Truist Securities, Citigroup, Goldman Sachs, and Morgan Stanley under a May 12, 2026 agreement. Shares were registered under an existing shelf registration from January 2024.

  Item 1.01 view on EDGAR →