South Plains Financial hikes dividend by 6.7%

On July 17, 2025, South Plains Financial (SPFI) declared a dividend hike of 6.7% to 16 cents quarterly per share. This marks the 6th consecutive year of increases by SPFI.

The new quarterly dividend will be paid on August 11, 2025. The dividend yield for SPFI is 1.6% at a stock price of $41. The stock is up 19% YTD. Last year SPFI announced a bigger 15.4% dividend hike.

South Plains Financial initiated a dividend back in 2019.

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.