Bank OZK declared an increase in its quarterly cash dividend on its common stock, as well as its preferred stock
Bank OZK, a leading financial institution, has recently declared an increase in its quarterly cash dividend on its common stock, as well as its preferred stock. The announcement reflects the Bank's commitment to providing value to its shareholders and maintaining a solid dividend track record.
Bank OZK's Board of Directors has approved a quarterly cash dividend of $0.36 per share on the Bank's common stock, representing a $0.01 increase or 2.86% growth compared to the previous quarter. Shareholders of record as of July 14, 2023, will be eligible to receive this dividend, which will be paid on July 21, 2023. Notably, this dividend increase marks the fifty-second consecutive quarter in which Bank OZK has raised its quarterly cash dividend on its common stock, reinforcing its dedication to shareholder value.
In addition to the dividend increase on common stock, Bank OZK's Board of Directors has declared a quarterly cash dividend of $0.28906 per share on the Bank's 4.625% Series A Non-Cumulative Perpetual Preferred Stock. This dividend covers the period from May 15, 2023, through August 15, 2023. Holders of the Series A Preferred Stock, as of the record date on August 1, 2023, will receive this dividend on August 15, 2023. This decision further underlines the Bank's commitment to rewarding its investors across different classes of stock.
Bank OZK's consistent track record of increasing its common stock dividend has earned it a place in the esteemed S&P High Yield Dividend Aristocrats® index since January 2018. This index comprises companies within the S&P Composite 1500® that have followed a managed-dividends policy, consistently increasing their common stock dividends for a minimum of 20 years. The inclusion in this index is a testament to Bank OZK's sound financial performance and commitment to delivering consistent shareholder returns.
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