International Bancshares Corporation Announces 19 Percent Increase in Cash Dividend
LAREDO, Texas—(BUSINESS WIRE) March 18, 2019— International Bancshares Corporation ("IBC") announced today that on March 15, 2019, IBC's Board of Directors approved the declaration of a 50 cents per share cash dividend, increasing the dividend by 8 cents or 19 percent from the previous cash dividend of .42 cents paid on October 16, 2018. This significant increase follows a 27 percent increase in the cash dividend paid in October 2018 from the .33 cents per share paid in April 2018. This cash dividend will be paid to shareholders of record of Common Stock, $1.00 par value, as of the close of business on April 1, 2019, payable on April 15, 2019.
"This increase in the cash dividend was made possible because of our company's record earnings performance augmented by the benefits of the recent tax cut, and our company's very strong capital position," said Dennis E. Nixon, president and CEO of IBC Bank.
IBC (NASDAQ:IBOC - News) is a multi-bank financial holding company with approximately $11.9 billion in assets headquartered in Laredo, Texas, with 189 facilities and more than 287 ATMs serving 89 communities in Texas and Oklahoma.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts contain forward-looking information with respect to future developments or events, expectations, plans, projections or future performance of IBC and its subsidiaries, the occurrence of which involve certain risks and uncertainties, including those detailed in IBC's filings with the Securities and Exchange Commission.