Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS' EQUITY (Tables)

v3.23.1
SHAREHOLDERS' EQUITY (Tables)
 3 Months Ended
Mar. 31, 2023
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)
Carrying Amount
Series Issuance Date
Shares Outstanding
 Dividend Rate
Earliest Redemption Date (1)
 At March 31, 2023 At December 31, 2022
Series B (2) 12/28/2011 35,500 
3-mo. LIBOR + 270 bps
 1/15/2017 $ 23  $ 23 
Series E (3) 2/27/2018 5,000  5.70  4/15/2023 495  495 
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 (2) 2/2/2021 500,000  4.50  4/15/2026 486  486 
Series I (4) 6/9/2021 7,000  5.70  12/01/2022 175  175 
Series J (2) 3/6/2023 325,000  6.875  4/15/2028 317  — 
Total 882,500  $ 2,484  $ 2,167 
(1) Redeemable at Huntington’s option on the date stated or on a quarterly basis thereafter. Earlier redemption is solely at Huntington’s option, subject to any required prior approval of Federal Reserve.
(2) Series B, H, and J preferred stock have a liquidation value and redemption price per share of $1,000, plus any declared and unpaid dividends.
(3) Series E, F, and G preferred stock have a liquidation value and redemption price per share of $100,000, plus any declared and unpaid dividends.
(4) Series I preferred stock has a liquidation value and redemption price per share of $25,000, plus any declared and unpaid dividends.
The following table presents the dividends declared for each series of Preferred shares for the three-month periods ended March 31, 2023 and 2022:
Three Months Ended March 31,
(amounts in millions, except per share data) 2023 2022
Cash Dividend Declared Per Share Cash Dividend Declared Per Share
Preferred Series Amount ($) Amount ($)
Series B $ 18.82  $ (1) $ 9.36  $ — 
Series E 1,425.00  (7) 1,425.00  (7)
Series F 1,406.25  (7) 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 (1) —  —  —  — 
Total $ (29) $ (28)
(1) First dividend declaration for Series J begins in second quarter 2023.