LAREDO, Texas - International Bancshares Corporation (NASDAQ:IBOC), a multi-bank financial holding company, has declared a cash dividend of 66 cents per share for its common stock shareholders, marking an increase from the previous dividend. The board of directors approved this dividend on January 31, 2024, for shareholders of record as of the close of business on February 15, 2024, with a payment date set for February 28, 2024.
The increase of 4.76%, or 3 cents per share, over the dividend paid on August 25, 2023, reflects the company's financial strength and commitment to delivering shareholder value. President and CEO Dennis E. Nixon attributed the decision to IBC's "continued record of superior financial results," citing the company's robust capital position, significant liquidity, and a history of positive earnings spanning over fifty-seven years.
IBC, headquartered in Laredo, Texas, manages assets totaling approximately $14.9 billion. With a network of 168 facilities and 258 ATMs, it serves 75 communities across Texas and Oklahoma. The company's success and strategic management are geared towards sustained growth and long-term shareholder value enhancement.
This news comes with the standard cautionary note that forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from projections. The company's filings with the Securities and Exchange Commission provide detailed information on these potential risks.
The announcement is based on a press release statement from International Bancshares Corporation.
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