AmSouth Approves Repurchase of 25 million Shares, Declares $0.23 Quarterly Dividend.Business Editors BIRMINGHAM, Ala.--(BUSINESS WIRE)--April 17, 2003 AmSouth Bancorporation AmSouth Bancorporation was a bank holding company headquartered in Birmingham, Alabama, operated as a subsidiary of Regions Financial Corporation. AmSouth was previously known as First National Bank of Birmingham first organized in 1872. (NYSE NYSE See: New York Stock Exchange :ASO ASO arteriosclerosis obliterans. ASO 1 Administrative services organization, see there 2 Allele-specific–oligonucleotide hybridization 3 Anti-streptolysin O, see there ) announced today that its Board of Directors has approved the repurchase of up to 25 million shares of the company's outstanding common stock. "These share repurchases Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. underscore our confidence in the company and its future performance," said C. Dowd Dowd is a derivation of an ancient surname which was once common in Ireland but is now quite rare. The name Dowd is an Anglicisation of the original Ui Dubhda, through its more common form O'Dowd. Ritter rit·ter n. pl. ritter A knight. [German, from Middle High German riter, from Middle Dutch ridder, from r , AmSouth's chairman, president and chief executive officer. The authorization represents 7 percent of the company's outstanding shares. The common shares may be repurchased in the open market or in privately negotiated transactions. The reacquired common shares will be held as treasury shares and may be reissued for various corporate purposes. As of March 31, 2003, there were 356 million shares outstanding. The company has been repurchasing shares under a 25 million share authorization approved in September 2001. As of April 16, 2003, there were 3.6 million shares remaining under that authorization. AmSouth's Board of Directors also declared a regular quarterly dividend of $.23 per common share, payable July 1, 2003, to shareholders of record as of June 17, 2003. AmSouth's dividend yield as of April 16, 2003, was 4.5 percent. AmSouth holds Mergent's "Dividend Achiever" designation for increasing dividends for 32 consecutive years. In addition, Standard & Poor's selected AmSouth as one of its "dividend elite" companies offering the potential for above-average appreciation and income. About AmSouth AmSouth is a regional bank holding company with $42 billion in assets, 600 branch banking offices and more than 1,200 ATMs. AmSouth operates in Tennessee, Alabama, Florida, Mississippi, Louisiana and Georgia. AmSouth is a leader among regional banks in the Southeast in several key business segments, including consumer and commercial banking, small business banking, mortgage lending, equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
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