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BIRMINGHAM, Ala. - First US Bancshares, Inc. (NASDAQ:FUSB), a bank holding company with a market capitalization of $74.22 million, has declared a quarterly cash dividend of $0.07 per share, offering a 2.16% yield. The upcoming dividend is scheduled to be paid on April 1, 2025, to shareholders who are on record as of March 14, 2025. According to InvestingPro, the company has maintained dividend payments for 11 consecutive years, with an impressive 40% dividend growth over the last twelve months.
James F. House, President and CEO of First US Bancshares, expressed his satisfaction with the company’s ability to provide dividends for the forty-third straight quarter. He emphasized the company’s commitment to rewarding shareholders while maintaining a robust capital foundation. The company’s financial health receives a "Good" rating from InvestingPro, with shares delivering a strong 27.31% return over the past year.
First US Bancshares operates through First US Bank with banking offices across Alabama, Tennessee, and Virginia. Trading at 9.39 times earnings and 0.75 times book value, the stock appears relatively affordable compared to many regional banks. The company is subject to the regulatory oversight of the U.S. Securities and Exchange Commission (SEC) and regularly files reports accessible via the SEC’s website or the company’s site.
The company cautioned readers that the press release includes forward-looking statements, which are based on management’s current estimates and involve risks and uncertainties. The actual outcomes could differ materially from those projected due to various factors, including credit risks, market conditions, competition, interest rate changes, technological shifts, and regulatory compliance costs.
The board’s decision on future dividends will take into account the company’s earnings, leverage, operations, financial conditions, capital requirements, and other relevant factors. It’s important to note that the board may adjust the dividend policy as circumstances change.
This report is based on a press release statement from First US Bancshares, Inc.
In other recent news, First US Bancshares has introduced a new annual cash incentive program targeting executive officers and key employees, set to commence for the fiscal year ending December 31, 2025. The program aims to motivate participants by offering bonuses based on achieving specific financial performance goals, such as pre-tax income and net loan growth in indirect lending. The incentive plan allows for payouts between 50% and 150% of the target bonus, depending on performance relative to budgeted goals. Additionally, provisions are in place for the recoupment of bonuses if financial restatements occur or if performance objectives were materially inaccurate.
In another development, First US Bancshares announced the resignation of long-serving board member John C. Gordon, effective January 31, 2025. His departure is not due to any disagreements with the company’s operations. Concurrently, the Board of Directors amended the company’s bylaws to allow annual votes to waive the mandatory retirement age for non-employee directors, previously set at seventy-five. These governance changes aim to provide flexibility in retaining experienced directors and are outlined in the company’s recent SEC filings.
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