Unlocking Prosperity: Med-Cap Companies Surge with Stellar Dividend Increase in the Last Quarter Q2 2023

Greenbrier increased their dividend by 11% last quarter Q2 2023 and these 14 other med-cap companies announced similar plans

Dividends

GBX: GREENBRIER COMPANIES, INC.

Industry: Railroads

The positive financial performance prompted Greenbrier's board to increase the quarterly dividend by 11% to $0.30 per share, payable on August 8, 2023, to shareholders of record as of July 18, 2023. This marks Greenbrier's 37th consecutive quarterly dividend, reflecting its confidence in its strategic plan and future growth prospects. Greenbrier recently held its inaugural Investor Day, where it unveiled long-term financial targets, aiming for significant growth in annual recurring revenue from its Leasing & Management Services segment and improved profitability by fiscal 2026.

Greenbrier Companies, Inc., a leading international supplier of equipment and services to global freight transportation markets, reported strong financial results for its third fiscal quarter ended May 31, 2023. The company's net earnings reached $27 million, and net earnings attributable to Greenbrier amounted to $21 million, or $0.64 per diluted share. The solid performance was driven by new railcar orders valued at $650 million and deliveries of 6,600 units during the quarter. Additionally, Greenbrier achieved manufacturing efficiencies ahead of plan, leading to operational improvements.

Greenbrier Companies, Inc. is a leading provider of railroad freight car equipment across North America, Europe, and South America. Operating through three segments - Manufacturing, Wheels, Repair & Parts, and Leasing & Services - the company offers an extensive range of railcars, including covered hopper cars, tank cars, intermodal railcars, and more. Their services include wheel reconditioning, railcar repair, and maintenance, as well as leasing options for a substantial fleet of railcars. Serving railroads, leasing companies, shippers, carriers, and transportation companies, Greenbrier has been a prominent player in the industry since its founding in 1974, with its headquarters based in Lake Oswego, Oregon.

FIX: Comfort Systems USA, Inc.

Industry: Engineering & Construction

Comfort Systems USA, Inc. (ticker symbol: FIX) recently made a significant move by increasing Comfort Systems USA, Inc.'s dividend, providing an attractive proposition for investors. Comfort Systems USA, Inc., renowned for its top-notch heating, ventilation, air conditioning, and electrical contracting services in the commercial, industrial, and institutional sectors, is well-positioned to capitalize on the growing demand for such solutions.

The dividend hike of $0.025, raising it to $0.225 per share, indicates Comfort Systems USA, Inc.'s strong financial performance and confidence in its future prospects. Comfort Systems USA, Inc.'s decision to increase the dividend can be attributed to a combination of factors, including robust revenue growth, operational efficiency, and solid cash flow generation.

Comfort Systems USA, Inc. provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. Comfort Systems USA, Inc. is involved in the design, engineering, integration, installation, and start-up of mechanical, electrical, and plumbing (MEP) systems; and maintenance, repair, replacement, renovation, expansion, reconfiguration, and monitoring of mechanical systems, including heating, ventilation, and air conditioning (HVAC) systems, as well as plumbing, piping and controls, off-site construction, electrical, monitoring, and fire protection. Comfort Systems USA, Inc. provides its services for office buildings, retail centers, apartment complexes, and manufacturing plants; and healthcare, education, and government facilities. Comfort Systems USA, Inc. serves building owners and developers, general contractors, architects, consulting engineers, and property managers in the commercial, industrial, and institutional MEP markets. Comfort Systems USA, Inc. was founded in 1917 and is headquartered in Houston, Texas.

WMS: ADVANCED DRAINAGE SYSTEMS, INC.

Industry: Building Products & Equipment

Advanced Drainage Systems, Inc. (ADS), a leading provider of water management solutions in stormwater and on-site septic waste water industries, recently made a significant move by increasing ADS's annual cash dividend to shareholders. The Board of Directors approved a total dividend of $0.56 per share, marking a notable 17% boost compared to the previous year.

The decision to raise ADS's dividend can be attributed to various factors. Firstly, ADS's strong balance sheet and impressive cash generation played a crucial role in bolstering their confidence to distribute more capital to shareholders. Additionally, ADS's commitment to efficiently managing operations and achieving operational excellence also contributed to the dividend increase.

ADS President and CEO, Scott Barbour, highlighted ADS's financial performance and strategic initiatives as reasons behind their confidence to return excess cash to shareholders while simultaneously investing in the growth of ADS's business.

Advanced Drainage Systems, Inc. designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the underground construction and infrastructure marketplace in the United States, Canada, and internationally. ADS offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators. ADS also purchases and distributes construction fabrics and other geotextile products for soil stabilization, reinforcement, filtration, separation, erosion control, and sub-surface drainage, as well as drainage grates and other products. ADS offers its products for non-residential, residential, agriculture, and infrastructure applications through a network of approximately 32 distribution centers in approximately 80 countries. Advanced Drainage Systems, Inc. was founded in 1966 and is headquartered in Hilliard, Ohio.

COLB: COLUMBIA BANKING SYSTEM, INC.

Industry: Banks—Regional

COLUMBIA BANKING SYSTEM, INC. (NASDAQ: COLB), the parent company of Umpqua Bank, has recently approved a significant increase in its quarterly cash dividend by 20%, bringing it to $0.36 per common share. The decision comes after the successful merger of COLUMBIA and Umpqua on February 28, 2023. This move reflects COLUMBIA BANKING SYSTEM, INC.'s strong foundational position resulting from the merger, according to Clint Stein, President & CEO of COLUMBIA BANKING SYSTEM, INC.

The increase in the dividend is a testament to the combined organization's robustness and the anticipated benefits of cost and revenue synergies. COLUMBIA BANKING SYSTEM, INC.'s management expects these synergies to bolster its operating fundamentals, making it better positioned for growth. Furthermore, COLUMBIA BANKING SYSTEM, INC. boasts a diversified balance sheet, further strengthening its financial position and providing opportunities for flexible capital deployment in the future.

COLUMBIA BANKING SYSTEM, INC. is a bank holding company for Columbia State Bank, serving small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. They offer a comprehensive range of personal banking products, including checking, savings, mortgages, home equity loans, and digital banking services. For businesses, they provide various banking products, commercial real estate loans, and treasury management services. Additionally, COLUMBIA BANKING SYSTEM, INC. offers wealth management services, including private banking, trust, and investment services. Founded in 1993 and headquartered in Tacoma, Washington, COLUMBIA BANKING SYSTEM, INC. operates approximately 150 branches.

CMC: COMMERCIAL METALS COMPANY

Industry: Steel

Commercial Metals Company (Commercial Metals Company) recently reported strong financial results for its fiscal third quarter, with net earnings of $234.0 million and net sales of $2.3 billion. Despite a net after-tax charge of $5.8 million related to the commissioning of the Arizona 2 micro mill, Commercial Metals Company recorded adjusted earnings of $239.7 million, demonstrating resilience and growth in its North American segment. Chairman and CEO, Barbara R. Smith, attributed this success to robust North American construction activity, favorable product margins in the domestic market, and efforts to reduce controllable costs.

Commercial Metals Company's positive outlook is backed by significant structural trends, such as the re-shoring of manufacturing and logistical supply chains, and increased investment in core infrastructure and energy markets. Additionally, the commissioning of operations at Commercial Metals Company's Arizona 2 project is well-timed to capitalize on the Infrastructure Investment and Jobs Act, re-shoring, and the Inflation Reduction Act. These strategic initiatives, along with the Tensar platform, are expected to drive substantial earnings and cash flow growth, creating value for shareholders.

Commercial Metals Company, headquartered in Irving, Texas, is a leading manufacturer, recycler, and fabricator of steel, metal products, and related materials. Operating both domestically and internationally, Commercial Metals Company processes and sells ferrous and nonferrous scrap metals to various industries, including steel mills, foundries, and copper refineries. Additionally, it offers a diverse range of finished long steel products, such as rebar, merchant bar, and light structural sections. Furthermore, Commercial Metals Company provides fabricated steel products used in construction projects, including reinforcing concrete for commercial buildings, hospitals, and infrastructure such as bridges and highways. Serving diverse markets, Commercial Metals Company also manufactures strength bars for truck trailers, special bar steels for the energy sector, and armor plates for military vehicles. With a history dating back to 1915, Commercial Metals Company continues to play a vital role in the steel and metal industry.

FCFS: FIRSTCASH, INC.

Industry: Credit Services

FirstCash Holdings, Inc. ("FirstCash"), the leading international operator of retail pawn stores and provider of retail point-of-sale payment solutions through American First Finance ("AFF"), reported its second-quarter earnings results, showcasing record revenues and strong earnings growth. FIRSTCASH's success is attributed to significant momentum in its core pawn operations in the U.S. and Latin America, along with continued growth in AFF's retail POS payment solutions business.

Due to FIRSTCASH's robust financial performance and positive outlook, FIRSTCASH decided to increase its quarterly dividend to $0.35 per share, a 6% increase compared to the previous dividend of $0.33 per share. This demonstrates FIRSTCASH's confidence in its earnings momentum and ability to generate strong cash flows.

FIRSTCASH's achievements were bolstered by various factors, including the addition of 36 pawn stores year-to-date, acquisitions, and an increase in active merchant door locations for AFF. The success of its pawn operations was driven by rising customer demand for pawn loans and value-priced merchandise, as well as increased revenue from retail sales. Furthermore, FIRSTCASH plans to continue its expansion, opening approximately 60 new stores in Latin America and four new stores in the U.S. during the year. Additionally, the strong performance of AFF, with significant revenue growth and stable lease and loan loss metrics, contributed to FIRSTCASH's overall success.

FIRSTCASH, INC., together with its subsidiaries, operates retail pawn stores in the United States and Latin America. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers. FIRSTCASH is also involved in melting scrap jewelry, as well as sells gold, silver, and diamonds in commodity markets. In addition, it offers credit services, small unsecured consumer loans, and check cashing services. As of December 31, 2019, FIRSTCASH operated 1,056 stores in the United States and the District of Columbia; 1,548 stores in Mexico; 54 stores in Guatemala; 13 stores in El Salvador; and 8 stores in Colombia. FIRSTCASH was formerly known as First Cash Financial Services, Inc. and changed its name to FIRSTCASH, INC. in September 2016. FIRSTCASH, INC. was founded in 1988 and is headquartered in Fort Worth, Texas.

ABR: ARBOR REALTY TRUST, INC.

Industry: Reit—Mortgage

ARBOR REALTY TRUST, INC. (ABR) recently announced its financial results for the second quarter of 2023, reporting a net income of $76.2 million, or $0.41 per diluted common share, compared to $69.9 million, or $0.41 per diluted common share, for the same period last year. Distributable earnings for the quarter were $114.0 million, or $0.57 per diluted common share, compared to $93.7 million, or $0.52 per diluted common share, in the previous year's quarter.

The increase in the dividend, which now stands at $0.43 per share of common stock, reflects ARBOR REALTY TRUST, INC.'s robust financial performance during the second quarter. Revenues from the Agency Business, Loan Origination Platform, and Structured Business contributed positively to ARBOR REALTY TRUST, INC.'s overall results. The gain on sales and income from mortgage servicing rights were also noteworthy factors in the dividend increase. Despite recording a provision for loan losses associated with CECL, ARBOR REALTY TRUST, INC.'s loan and investment portfolio remained strong, further supporting the decision to increase dividends.

ARBOR REALTY TRUST, INC. invests in a diversified portfolio of structured finance assets in the multifamily, single-family rental, and commercial real estate markets. The company operates in two segments, Structured Business and Agency Business. It primarily invests in real estate-related bridge and mezzanine loans, including junior participating interests in first mortgages, and preferred and direct equity, as well as real estate-related notes and various mortgage-related securities. The company offers bridge financing products to borrowers who seek short-term capital to be used in an acquisition of property; financing by making preferred equity investments in entities that directly or indirectly own real property; mezzanine financing in the form of loans that are subordinate to a conventional first mortgage loan and senior to the borrower''s equity in a transaction; and junior participation financing in the form of a junior participating interest in the senior debt. In addition, it underwrites, originates, sells, and services multifamily mortgage loans through conduit/commercial mortgage-backed securities programs. ARBOR REALTY TRUST, INC. qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 2003 and is headquartered in Uniondale, New York.

PX: P10, INC.

Industry: Asset Management

P10, Inc. (PX) - a prominent private markets solutions provider, has recently released its financial results for the first quarter of 2023, demonstrating impressive growth in various key metrics. P10, Inc. reported a 23% increase in Fee Paying Assets Under Management, reaching $21.6 billion, and a 32% increase in Revenue, amounting to $57.3 million. Despite a 90% decrease in GAAP Net Income, P10, Inc. managed to achieve a remarkable 27% increase in Adjusted EBITDA, totaling $28.4 million, and a 14% increase in Adjusted Net Income, reaching $25.5 million.

Amidst this favorable financial performance, P10, Inc. announced an 8% increase in its annual dividend, raising it from $.12 per share to $.13 per share. The Board of Directors declared a quarterly cash dividend of $.0325 per share of Class A and Class B common stock, scheduled for payment on June 20, 2023, to shareholders of record as of May 30, 2023.

This dividend increase reflects P10, Inc.'s resilience and growth potential in the face of a challenging macroeconomic environment. P10, Inc.'s leadership, Robert Alpert and Co-CEO Clark Webb, expressed confidence in the company's future prospects, given the double-digit growth in revenue, Adjusted EBITDA, and Adjusted Net Income, as well as the addition of $911 million to fee paying assets under management during the first quarter of 2023.

P10, Inc., together with its subsidiaries, provides private market solutions for the alternative asset management industry in the United States. The company offers private equity, venture capital, private credit, impact investing, and private credit services, as well as primary investment funds, secondary investment, and direct and co-investments services. It also provides tax credit transaction and consulting services. P10, Inc. was incorporated in 1992 and is headquartered in Dallas, Texas.

OTTR: OTTER TAIL CORPORATION

Industry: Utilities—Diversified

Otter Tail Corporation (OTTR) recently announced its financial results for the quarter ending March 31, 2023. Despite a decrease in consolidated operating revenues and net income compared to the same quarter in 2022, President and CEO Chuck MacFarlane expressed satisfaction with Otter Tail Corporation's performance. The Electric and Manufacturing segments showed impressive double-digit earnings growth, driven by factors like new customer load and increased sales volumes.

OTTR decided to increase its dividend by declaring a quarterly common stock dividend of $0.4375 per share, payable on June 9, 2023, to shareholders of record on May 15, 2023. This decision comes in the wake of Otter Tail Corporation's strong financial results and positive outlook for 2023. Additionally, Otter Tail Power's supplemental Integrated Resource Plan, including investments in renewable energy and wind generation, has contributed to their increased capital expenditure plan, driving earnings growth in the Electric segment over the next five years.

Overall, Otter Tail Corporation remains focused on executing its strategy to grow its business, achieve operational excellence, and strengthen its position in the markets it serves. With expectations of a compounded annual growth rate in earnings per share ranging from 5% to 7%, Otter Tail Corporation looks forward to continued success in the coming years. Investors may find potential value in Otter Tail Corporation, particularly considering its commitment to renewable energy investments and its positive dividend prospects.

Otter Tail Corporation is a U.S.-based company with subsidiaries involved in electric, manufacturing, and plastics businesses. Its Electric segment produces and sells electric energy, serving customers in Minnesota, North Dakota, and South Dakota. Additionally, Otter Tail Corporation participates in the Midcontinent Independent System Operator, Inc. markets. The Manufacturing segment specializes in metal components for various industries, while the Plastics segment manufactures polyvinyl chloride pipes for water and wastewater systems. Founded in 1907 and headquartered in Fergus Falls, Minnesota, Otter Tail Corporation has a long history of providing essential services and products to diverse markets.

SYBT: STOCK YARDS BANCORP, INC.

Industry: Banks—Regional

Stock Yards Bancorp, Inc. (SYBT), the parent company of Stock Yards Bank & Trust Company, recently announced an increase in Stock Yards Bancorp, Inc.'s quarterly cash dividend to $0.29 per common share. This dividend, maintained at the previous quarter's amount, reflects Stock Yards Bancorp, Inc.'s commitment to rewarding its shareholders. The dividend will be paid on July 3, 2023, to stockholders of record as of June 20, 2023.

Stock Yards Bancorp, Inc.'s decision to increase its dividend may be attributed to the company's solid financial performance and optimistic outlook. Stock Yards Bancorp, Inc. has been extending its Stock Repurchase Plan, which authorizes the repurchase of one million shares. So far, Stock Yards Bancorp, Inc. has repurchased approximately 259,000 shares, leaving around 741,000 shares eligible for repurchase. The extension of the Plan's expiration date to May 22, 2025, showcases the company's confidence in its future growth and value.

Stock Yards Bancorp, Inc. operates as the holding company for Stock Yards Bank & Trust Company that provides commercial and personal banking services in Louisville, Indianapolis, and Cincinnati. Stock Yards Bancorp, Inc.'s deposit products include demand deposits, savings deposits, money market deposits, and time deposits. The company's loan portfolio comprises commercial and industrial, construction and development, undeveloped land, real estate mortgage, and consumer loans. In addition, Stock Yards Bancorp, Inc. offers securities brokerage services through an arrangement with a third-party broker-dealer; and financial planning, investment management, retirement planning, trust, and estate services. As of December 31, 2019, the company had 42 full-service banking locations, including 32 in the Louisville metropolitan statistical area (MSA), 5 in Indianapolis MSA, and 5 in Cincinnati MSA. Stock Yards Bancorp, Inc. was founded in 1904 and is headquartered in Louisville, Kentucky.

FBMS: THE FIRST BANCSHARES, INC.

Industry: Banks—Regional

The First Bancshares, Inc. ("FBMS" or "the Company") recently reported its financial results for the quarter ended June 30, 2023. The company experienced a remarkable increase in net income available to common shareholders, totaling $23.8 million, representing a substantial 46.1% growth compared to the previous quarter. This remarkable performance was driven by various factors, including a modest loan growth of 3.3% on an annualized basis, and a 13 bps expansion in net interest margin, reaching 3.76% for the quarter.

Furthermore, the company made significant strategic moves during this period, such as adding commercial banking teams in St. Petersburg, FL, and New Orleans, LA, which may have contributed to its overall success. The company's solid core earnings stream and conservative balance sheet structure have positioned it well in the challenging operating environment. As a result of this strong performance and positive outlook, the Company increased its cash dividend by 5% to $0.23 per share, a move that reflects its confidence in future prospects and financial stability.

First Bancshares, Inc. (Mississippi) operates as a bank holding company. The company is headquartered in Hattiesburg, Mississippi and currently employs 582 full-time employees. The firm and the Bank engage in a general commercial and retail banking business for small to medium-sized businesses, professional concerns and individuals. The Bank provides a range of banking services across Mississippi, Louisiana, Alabama, Florida and Georgia. The Bank offers a range of commercial and personal loans. Commercial loans include both secured and unsecured loans for working capital (including loans secured by inventory and accounts receivable), business expansion (including acquisition of real estate and improvements), and purchase of equipment and machinery. The Bank offers a range of deposit services, including noninterest-bearing accounts, negotiable order of withdrawal (NOW) accounts, money market accounts, savings accounts and time deposits.

HLI: Houlihan Lokey, Inc.

Industry: Capital Markets

Houlihan Lokey, Inc., a leading financial services firm, recently reported its fiscal year and fourth quarter 2023 financial results. Despite a decline in revenues for the fiscal year, Houlihan Lokey demonstrated resilience in its diverse business model, with its Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory businesses maintaining growth profiles in challenging market environments.

Houlihan Lokey's net income decreased for the fiscal year, resulting in an adjusted diluted EPS of $4.54, compared to $7.10 in the previous year. In the fourth quarter, net income increased to $77 million, with an adjusted diluted EPS of $1.11, compared to $88 million and $1.30, respectively, for the same period last year.

In light of the overall financial performance, Houlihan Lokey announced an increase in its quarterly dividend to $0.55 per share. This move reflects the company's confidence in its ability to navigate the current market conditions and generate solid profitability moving forward.

Houlihan Lokey's dividend increase may have been influenced by its solid performance in specific segments, such as Financial Restructuring, and its optimistic outlook for fiscal 2024. Investors and analysts may find Houlihan Lokey's dividend prospects promising, considering the strong new business activity in its Corporate Finance division and the potential for robust results in the Financial Restructuring segment.

Houlihan Lokey, Inc. is a global investment banking company specializing in M&A, capital markets, financial restructuring, and valuation advisory services. Operating through three segments—Corporate Finance, Financial Restructuring, and Financial Advisory Services—the firm provides comprehensive financial guidance to public and private institutions on various transactions, such as buy-side and sell-side deals, debt offerings, initial public offerings, equity placements, and more. Additionally, Houlihan Lokey offers debtors, creditors, and other parties-in-interest expert advice on recapitalization and deleveraging transactions. With a wide range of financial solutions and expertise, Houlihan Lokey serves corporations, financial sponsors, and government agencies worldwide since its inception in 1972, with its headquarters in Los Angeles, California.

RLJ: RLJ LODGING TRUST

Industry: Reit—Hotel & Motel

RLJ Lodging Trust, a prominent hospitality company, recently announced robust first-quarter results, reporting impressive growth in key metrics. RLJ Lodging Trust achieved a remarkable 27.0% increase in Comparable RevPAR, reaching $136.45, outperforming the comparable period in 2022 and achieving 95% of the comparable period in 2019. This growth was primarily driven by the positive momentum in lodging fundamentals, particularly in urban markets like San Diego, New York, and Washington DC, which witnessed substantial increases in average daily rates (ADR).

The exceptional performance allowed RLJ Lodging Trust to generate net income of $10.5 million and Comparable Hotel EBITDA of $90.9 million during the first quarter. Capitalizing on its strong financial position, RLJ Lodging Trust repurchased approximately 3.9 million common shares for $40 million and increased its quarterly dividend by an impressive 60% to $0.08 per common share. This dividend increase is a reflection of RLJ Lodging Trust's confidence in its cash flow profile and growth prospects.

Looking ahead, RLJ Lodging Trust is optimistic about its second-quarter outlook, with projected Comparable RevPAR of $155.00 to $159.00 and anticipated Adjusted EBITDA of $112.0 million to $121.0 million. Assuming no major disruptions to travel, RLJ Lodging Trust appears well-positioned to sustain its growth trajectory and continue delivering value to its shareholders.

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service, and compact full-service hotels. RLJ Lodging Trust's portfolio consists of 103 hotels with approximately 22,570 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.

BCO: THE BRINK'S COMPANY

Industry: Security & Protection Services

BCO's Board of Directors announced a 10% increase in The Brink's Company's regular quarterly dividend on common stock, raising it from 20 cents per share to 22 cents per share. This decision comes as a result of BCO's impressive performance in 2022, along with a strong financial position and positive business outlook.

Mark Eubanks, the President and CEO of The Brink's Company, highlighted the reasons behind BCO's dividend increase. He emphasized BCO's commitment to long-term shareholder value and explained that the boost in dividends, along with their share repurchase program, is part of BCO's broader capital allocation framework. By returning excess cash to their shareholders, BCO aims to reward their investors and demonstrate confidence in their future prospects.

The Brink's Company, founded in 1859, is a leading provider of secure transportation, cash management, and security-related services across North America, South America, and internationally. BCO's offerings include armored vehicle transportation for valuables, ATM services, network infrastructure services, transportation services for various valuable items, vault outsourcing, technology applications, bill payment acceptance, prepaid cards, corporate debit cards, security system design and installation, monitoring services, and security and guarding services. Catering to banks, financial institutions, retailers, government agencies, mints, jewelers, and other commercial operations, The Brink's Company is headquartered in Richmond, Virginia.

NBHC: NATIONAL BANK HOLDINGS CORPORATION

Industry: Banks—Regional

National Bank Holdings Corporation (NBHC) has recently made significant strides to enhance shareholder value. Notably, NBHC announced a 4.0% increase in its cash dividend for common stock, raising it from $0.25 to $0.26 per share. This decision comes as a result of NBHC's robust financial performance in the first quarter of 2023, where NBHC achieved record earnings. NBHC's strong capital position and ample liquidity further bolstered its ability to deliver attractive returns to shareholders.

In addition to the dividend increase, NBHC's Board of Directors also authorized a new stock repurchase program of up to $50.0 million. This move demonstrates NBHC's confidence in its future prospects and its commitment to returning value to shareholders. The program replaces the previous authorization, signaling the board's ongoing commitment to capital allocation and financial discipline.

National Bank Holdings Corporation is a U.S. bank holding company that operates NBH Bank, catering to commercial, business, and consumer clients. NBHC provides a wide range of financial services, including deposit products like checking, savings, and money market accounts, as well as various commercial and industrial loans and leases. Additionally, NBHC offers treasury management solutions such as online and mobile banking, commercial credit cards, and wire transfers. With a network of 97 banking centers in Colorado, the greater Kansas City area, New Mexico, Utah, and Texas, along with 127 ATMs, NBHC has been serving its customers since its incorporation in 2009, with headquarters in Greenwood Village, Colorado.

All data was sourced from LevelFields AI

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