Northern Trust Corporation Announces 2022 Crisis Capital Cushion and Intention to Increase Quarterly Common Share Dividend by 7%

CHICAGO–(BUSINESS WIRE)–Northern Trust Corporation today commented on the results of the Federal Reserve’s 2022 Comprehensive Capital Analysis and Review (CCAR) and announced its intention to increase its quarterly common stock dividend by 0, $70 to $0.75 per common share, beginning in the third quarter of 2022.

Based on the results of the CCAR 2022, Northern Trust will be subject to a preliminary Stress Capital Buffer (SCB) of 2.5%, which is unchanged from the current level. The SCB will be effective from October 1, 2022 to September 30, 2023 and will be equivalent to a minimum Common Equity Tier 1 (CET1) ratio of 7%.

“Northern Trust’s annual CCAR results continue to illustrate the strength of our capital and business model,” said Chairman and CEO Michael O’Grady. “Our plan to increase our dividend by 7% reflects these same strengths, as well as our commitment to shareholders.”

The common stock dividend is subject to the approval of the Company’s Board of Directors.

Northern Trust will continue to take an opportunistic and considerate approach in its assessment of potential Common Share redemptions given its strong capital position, prevailing market conditions and other factors.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to businesses, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 23 US states and Washington, DC, and 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2022, Northern Trust had assets under custody/administration of US$15.5 trillion and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has distinguished itself as an industry leader for its exceptional service, financial expertise, integrity and innovation. Visit us at northtrust.com. follow us on Twitter @NorthernTrust or Northern Trust Corporation on LinkedIn.

Northern Trust Corporation, registered office: 50 South La Salle Street, Chicago, Illinois 60603 USA, incorporated with limited liability in the USA Global legal and regulatory information can be found at https://www.northerntrust.com/terms -and-conditions.

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