BISMARCK, N.D. - BNCCORP, INC. (OTCQX Markets: BNCC), a bank holding company with a market capitalization of $117.63 million, has announced a special one-time cash dividend of $4.00 per share on its common stock. The dividend announcement comes as the stock trades near its 52-week high of $33.75, having delivered a remarkable 48.69% return over the past year. The dividend is scheduled to be paid on January 14, 2025, to shareholders on record as of December 30, 2024. The total disbursement related to the dividend will amount to approximately $14.4 million.
Michael Vekich, the Chairman of BNC, stated that this dividend is a reflection of the company's capital management strategy, which prioritizes returning capital to shareholders. He emphasized that this approach aligns with maintaining the company's business, making profitable investments, and keeping a reserve for capital and liquidity. Vekich also remarked that the dividend underscores the company's financial robustness and its commitment to remaining a competitive financial partner. According to InvestingPro analysis, BNCC currently trades at a P/E ratio of 13.75 and appears overvalued based on its Fair Value assessment. For more insights on market valuations, explore the most overvalued stocks list.
BNCCORP, INC., with its headquarters in Bismarck, North Dakota, serves as a registered bank holding entity. It focuses on delivering banking and wealth management services to both businesses and consumers within its local markets, operating through 11 community banking and wealth management locations in North Dakota and Arizona. The company maintains a healthy financial profile with a low debt-to-equity ratio of 0.15 and has been profitable over the last twelve months.
The announcement also included forward-looking statements regarding the company's financial conditions, operations, and strategic plans. These statements are based on current management beliefs and available information. However, the company has indicated that actual results may vary due to several factors, including economic conditions, regulatory changes, interest rate fluctuations, and unforeseen impacts from pandemics or other events. Discover more detailed financial analysis and additional ProTips for BNCC with InvestingPro.
The information provided in this article is based on a press release statement from BNCCORP, INC.
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