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Is Board Downsizing And A Higher Dividend Altering The Investment Case For Old National Bancorp (ONB)?
Old National Bancorp is reducing its board from 16 to 12 members and has increased its quarterly common dividend by 3.6% to US$0.145 per share. These changes, coupled with ongoing technology upgrades, reinforce the bank’s focus on capital returns. While the board changes are seen as housekeeping, the investment narrative continues to balance CRE credit risk with protecting earnings quality and the sustainability of the dividend payout.