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Investing.com -- Sierra Bancorp (NASDAQ:BSRR) stock rose 7.2% in premarket trading Friday after the company announced its Board of Directors approved a new share repurchase program and declared a quarterly dividend.
The parent company of Bank of the Sierra received authorization to repurchase up to one million shares of its outstanding common stock. The new program will commence after the current share repurchase program expires on October 31, 2025, and continue until October 31, 2026.
Sierra Bancorp noted that no shares remain available for repurchase under the current program. The timing and number of shares repurchased will depend on factors including price, trading volume, and market conditions. Management has been authorized to enter into a 10b5-1 Plan with a broker-dealer to facilitate the repurchases.
Additionally, the company declared a regular quarterly cash dividend of $0.25 per share, payable on November 14, 2025, to shareholders of record as of November 3, 2025. This marks Sierra Bancorp’s 107th consecutive quarterly cash dividend, continuing a tradition of shareholder returns that began with annual dividends in 1987.
The dividend was approved following the Board’s review of the company’s financial performance and capital position for the quarter ended September 30, 2025.
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