International Bancshares Corporation Increases Cash Dividend by 4.76%

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02/01/2024 - 10:47 AM

LAREDO, Texas--(BUSINESS WIRE)-- International Bancshares Corporation (NASDAQ: IBOC) announced today that on Jan. 31, 2024, IBC’s Board of Directors approved the declaration of a 66 cents per share cash dividend for shareholders of record of Common Stock, $1.00 par value, as of the close of business on Feb. 15, 2024, payable on Feb. 28, 2024. This dividend represents a 4.76% or 3 cents per share increase above IBC’s previous dividend paid on Aug. 25, 2023.

“This discretionary cash dividend was made possible because of our Company’s continued record of superior financial results. Adding to this strong performance is our exceptionally strong capital position, significant liquidity, and more than fifty-seven years of positive earnings. In 2024, we remain committed to continuing to manage our Company responsibly to position us for sustained success and to enhance the value of our Company for our shareholders,” said Dennis E. Nixon, president, and CEO of IBC.

IBC is a multi-bank financial holding company headquartered in Laredo, Texas, with approximately $14.9 billion in total assets and 168 facilities and 258 ATMs serving 75 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 plans, projections or future performance of IBC and its subsidiaries, the occurrence of which involve certain risks and uncertainties detailed in IBC’s filings with the Securities and Exchange Commission.

Copies of IBC’s SEC filings and Annual Report (as an exhibit to the 10-K) may be downloaded from the SEC filings site located at http://www.sec.gov/edgar.shtml or IBC’s website at http://www.ibc.com.