Bank OZK Announces Increase to Quarterly Common Stock Dividend and Announces Preferred Stock Dividend

Rhea-AI Summary

Bank OZK announces a 2.63% increase in its quarterly cash dividend on common stock, marking fifty-five consecutive quarters of dividend growth. The Bank also declared a dividend on its Series A Preferred Stock. Bank OZK has been included in the S&P High Yield Dividend Aristocrats index since January 2018.

Positive

• Bank OZK continues its streak of increasing quarterly cash dividend on common stock for fifty-five quarters.
• The Bank raised its common stock dividend by $0.01, or 2.63%, from the prior quarter.
• The Board of Directors also declared a dividend on the Bank's Series A Preferred Stock.
• Bank OZK's inclusion in the S&P High Yield Dividend Aristocrats index since 2018 highlights its consistent dividend growth strategy.

Negative

• None.

Fifty-five consecutive quarters of increased quarterly cash dividend on its common stock

LITTLE ROCK, Ark., April 01, 2024 (GLOBE NEWSWIRE) -- Bank OZK (the “Bank”) (Nasdaq: OZK) announced its Board of Directors declared a quarterly cash dividend on the Bank’s common stock of $0.39 per share, up $0.01, or 2.63% from the prior quarter. The common stock dividend is payable on April 19, 2024 to shareholders of record as of April 12, 2024. Bank OZK has increased its quarterly cash dividend on its common stock in each of the last fifty-five quarters.

The Board of Directors also declared a quarterly cash dividend of $0.28906 per share on the Bank’s 4.625% Series A Non-Cumulative Perpetual Preferred Stock (“Series A Preferred Stock”) (Nasdaq: OZKAP) for the period covering February 15, 2024 through, but excluding May 15, 2024. The Series A Preferred Stock dividend is payable on May 15, 2024, to the holders of record of the Series A Preferred Stock at the close of business on May 6, 2024.

Bank OZK’s consistent track record of increasing its common stock dividend has led to it being included in the S&P High Yield Dividend Aristocrats^® index (Ticker: SPHYDA) since January 2018. The index consists of members of the S&P Composite 1500^® that have followed a managed-dividends policy of consistently increasing common stock dividends every year for at least 20 years, and that meet minimum float-adjusted market capitalization and liquidity requirements. For more information on the index, visit www.spglobal.com/spdji.

GENERAL INFORMATION
Bank OZK (Nasdaq: OZK) is a regional bank providing innovative financial solutions delivered by expert bankers with a relentless pursuit of excellence. Established in 1903, Bank OZK conducts banking operations in approximately 240 offices in eight states including Arkansas, Georgia, Florida, North Carolina, Texas, New York, California and Mississippi and had $34.24 billion in total assets as of December 31, 2023. For more information, visit www.ozk.com.

The Bank files annual, quarterly and current reports, proxy materials, and other information required by the Securities Exchange Act of 1934 with the Federal Deposit Insurance Corporation (“FDIC”), copies of which are available electronically at the FDIC’s website at https://efr.fdic.gov/fcxweb/efr/index.html and are also available on the Bank’s investor relations website at ir.ozk.com. To receive automated email alerts for these materials please visit https://ir.ozk.com/other/email-alerts to sign up.

FAQ

What is the new quarterly cash dividend on Bank OZK's common stock?

The new quarterly cash dividend on Bank OZK's common stock is $0.39 per share.

When is the common stock dividend payable?

The common stock dividend is payable on April 19, 2024.

How many quarters has Bank OZK consecutively increased its common stock dividend?

Bank OZK has increased its common stock dividend for fifty-five consecutive quarters.

What is the dividend amount declared on Bank OZK's Series A Preferred Stock?

The dividend declared on Bank OZK's Series A Preferred Stock is $0.28906 per share.

When is the Series A Preferred Stock dividend payable?

The Series A Preferred Stock dividend is payable on May 15, 2024.

Since when has Bank OZK been included in the S&P High Yield Dividend Aristocrats index?

Bank OZK has been included in the S&P High Yield Dividend Aristocrats index since January 2018.