LOUISVILLE - Republic Bancorp, Inc. (NASDAQ:RBCAA), the holding company for Republic Bank & Trust Company, has announced a cash dividend for its shareholders. The company will pay $0.407 per share on Class A Common Stock and $0.37 per share on Class B Common Stock. The dividends are scheduled to be paid on January 17, 2025, to shareholders of record as of December 20, 2024.
This financial institution operates 47 banking centers across five states, with a presence in several metropolitan statistical areas, including Louisville, Lexington, Cincinnati, Tampa, and Nashville. Republic Bank & Trust Company also maintains an internet banking platform, offering services through its website. As of September 30, 2024, Republic Bancorp reported approximately $6.7 billion in total assets.
The company's Class A Common Stock is traded on the NASDAQ Global Select Market under the ticker symbol RBCAA. The announcement of the dividend payment follows Republic Bancorp's commitment to providing value to its shareholders. This information is based on a press release statement from Republic Bancorp, Inc.
In other recent news, Republic Bancorp has reported a significant increase in core earnings for the third quarter of 2024, reflecting the company's financial growth. Alongside this robust performance, the company has also initiated a new stock repurchase program, demonstrating confidence in its current financial health and future prospects. This program is expected to enhance shareholder value by potentially increasing earnings per share and return on equity.
In addition to these financial developments, Republic Bancorp's Compensation Committee has approved a substantial cash bonus of $225,000 for William Nelson, President of the Republic Processing Group. This bonus is a full payout for Nelson's performance during the fiscal year ending September 30, 2024, and is in recognition of his significant contributions to the company's gross operating profit.
The company has also reported a marked increase in core earnings for the quarter ending June 2024, further demonstrating strong performance. The specifics of the new stock repurchase program and the timeline for the buyback, however, remain undisclosed. These are among the recent developments at Republic Bancorp, as reported in its 8-K filings with the Securities and Exchange Commission.
InvestingPro Insights
Republic Bancorp's recent dividend announcement aligns with its strong track record of shareholder returns. According to InvestingPro data, the company boasts a dividend yield of 2.16% and has impressively raised its dividend for 10 consecutive years. This consistency in dividend growth, coupled with a 8.82% dividend growth rate over the last twelve months, underscores Republic Bancorp's commitment to rewarding its investors.
The company's financial health appears robust, with a P/E ratio of 14.17, suggesting a relatively attractive valuation compared to its earnings. This is further supported by an InvestingPro Tip indicating that RBCAA is trading at a low P/E ratio relative to its near-term earnings growth, which could be of interest to value-oriented investors.
Republic Bancorp's performance has been particularly strong in recent periods, with a remarkable 62.66% total return over the past year and a 28.68% return in the last three months. This positive momentum is reflected in the stock price, which currently stands at 93% of its 52-week high.
For investors seeking more comprehensive analysis, InvestingPro offers 10 additional tips for RBCAA, providing deeper insights into the company's financial position and market performance.
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