South Plains Financial initiates dividend
South Plains Financial (SPFI) will start paying a quarterly dividend of $0.03 per share. Earlier this year the bank holding company for City Bank went public and this is the first ever dividend payment.
The first dividend is payable on August 7, 2019, to shareholders of record as of the close of business on July 24, 2019. An annualized dividend rate of 12 cents yields 0.7% at a stock price of $17.42.
South Plains is the bank holding company for City Bank, a Texas chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks in West Texas and has additional banking operations in the Dallas and El Paso markets, as well as in the Greater Houston, and College Station Texas markets, and the Ruidoso and Eastern New Mexico markets. South Plains provides commercial and consumer financial services to small and medium-sized businesses and individuals in its market areas. Its principal business activities include commercial and retail banking, along with insurance, investment, trust and mortgage services. South Plains Financial went public in May 2019.
The first dividend is payable on August 7, 2019, to shareholders of record as of the close of business on July 24, 2019. An annualized dividend rate of 12 cents yields 0.7% at a stock price of $17.42.
South Plains is the bank holding company for City Bank, a Texas chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks in West Texas and has additional banking operations in the Dallas and El Paso markets, as well as in the Greater Houston, and College Station Texas markets, and the Ruidoso and Eastern New Mexico markets. South Plains provides commercial and consumer financial services to small and medium-sized businesses and individuals in its market areas. Its principal business activities include commercial and retail banking, along with insurance, investment, trust and mortgage services. South Plains Financial went public in May 2019.