Quarterly report [Sections 13 or 15(d)]

SHAREHOLDERS' EQUITY (Tables)

v3.25.1
SHAREHOLDERS' EQUITY (Tables)
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Schedule of Stock
The following is a summary of Huntington’s non-cumulative, non-voting, perpetual preferred stock outstanding.
(dollar amounts in millions) Issuance Date
Shares Outstanding
 Dividend Rate
Earliest Redemption Date (1)
Carrying Amount
Series At March 31, 2025 At December 31, 2024
Series B (1) 12/28/2011 35,500  Variable (2) 1/15/2017 $ 23  $ 23 
Series F (3) 5/27/2020 5,000  5.625  % 7/15/2030 494  494 
Series G (3) 8/3/2020 5,000  4.45  10/15/2027 494  494 
Series H (1) 2/2/2021 500,000  4.50  4/15/2026 486  486 
Series I (5) 6/9/2021 7,000  5.70  12/01/2022 175  175 
Series J (1) 3/6/2023 325,000  6.875  4/15/2028 317  317 
Total 877,500  $ 1,989  $ 1,989 
(1)     Liquidation value and redemption price per share of $1,000, plus any declared and unpaid dividends.
(2)    Dividend rate converted to 3-month CME Term SOFR + 26 bps spread adjustment + 270 bps.
(3)     Liquidation value and redemption price per share of $100,000, plus any declared and unpaid dividends.
(4)    Dividend rate converted to 3-month CME Term SOFR + 26 bps spread adjustment + 288 bps.
(5)     Liquidation value and redemption price per share of $25,000, plus any declared and unpaid dividends.
The following table presents the dividends declared for each series of preferred shares.
Three Months Ended Three Months Ended
(amounts in millions, except per share data) March 31, 2025 March 31, 2024
Cash Dividend Declared Per Share Cash Dividend Declared Per Share
Preferred Series
Amount
Amount
Series B $ 18.16  $ 1  $ 20.69  $ 1 
Series E (1)
 —  —  2,113.90  8 
Series F 1,406.25  6  1,406.25  7 
Series G 1,112.50  6  1,112.50  6 
Series H 11.25  6  11.25  6 
Series I 356.25  2  356.25  2 
Series J 17.19  6  17.19  6 
Total $ 27  $ 36 
(1)     During the fourth quarter of 2024, all remaining $405 million of outstanding Series E Preferred Stock, par value of $0.01 per share, was redeemed.