PROSPERITY BANCSHARES, INC.® ANNOUNCES COMMON STOCK DIVIDEND

Rhea-AI Summary

On January 18, 2023, Prosperity Bancshares, Inc. (NYSE: PB) announced a quarterly common stock dividend of $0.55 per share for Q1 2023. This dividend is payable on April 3, 2023, to shareholders of record as of March 15, 2023. Prosperity Bancshares, based in Houston, Texas, has a market capitalization of $37.844 billion and operates 272 banking locations across Texas and Oklahoma, providing various personal banking services. Founded in 1983, the bank aims to serve the financial needs of communities with a focus on customer care and tailored solutions.

Positive

• Declaration of a quarterly common stock dividend of $0.55 per share.
• Dividend payable to shareholders indicates financial strength and commitment to returning value.

Negative

• None.

News Market Reaction – PB

-0.69%

1 alert

-0.69% News Effect

On the day this news was published, PB declined 0.69%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HOUSTON, Jan. 18, 2023 /PRNewswire/ -- Prosperity Bancshares, Inc.^® (NYSE: PB) today announced that its Board of Directors declared a quarterly common stock dividend of $0.55 per share for the first quarter of 2023, payable April 3, 2023, to shareholders of record as of March 15, 2023.

Prosperity Bancshares, Inc.^®

As of September 30, 2022, Prosperity Bancshares, Inc.^® is a $37.844 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consumers and small to medium sized businesses throughout Texas and Oklahoma.

Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses, and communities in the areas it serves by providing financial solutions to simplify everyday financial needs. In addition to offering traditional deposit and loan products, Prosperity offers digital banking solutions, credit and debit cards, mortgage services, retail brokerage services, trust and wealth management, and cash management.

Prosperity currently operates 272 full-service banking locations: 65 in the Houston area, including The Woodlands; 30 in the South Texas area including Corpus Christi and Victoria; 62 in the Dallas/Fort Worth area; 22 in the East Texas area; 29 in the Central Texas area including Austin and San Antonio; 34 in the West Texas area including Lubbock, Midland-Odessa and Abilene; 16 in the Bryan/College Station area, 6 in the Central Oklahoma area; and 8 in the Tulsa, Oklahoma area.

Cautionary Notes on Forward-Looking Statements

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release contains, and the remarks by Prosperity's management on the conference call may contain, forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are typically, but not exclusively, identified by the use in the statements of words or phrases such as "aim," "anticipate," "estimate," "expect," "goal," "guidance," "intend," "is anticipated," "is expected," "is intended," "objective," "plan," "projected," "projection," "will affect," "will be," "will continue," "will decrease," "will grow," "will impact," "will increase," "will incur," "will reduce," "will remain," "will result," "would be," variations of such words or phrases (including where the word "could," "may," or "would" is used rather than the word "will" in a phrase) and similar words and phrases indicating that the statement addresses some future result, occurrence, plan or objective. Forward-looking statements include all statements other than statements of historical fact, including forecasts or trends, and are based on current expectations, assumptions, estimates and projections about Prosperity Bancshares and its subsidiaries. These forward-looking statements may include information about Prosperity's possible or assumed future economic performance or future results of operations, including future revenues, income, expenses, provision for loan losses, provision for taxes, effective tax rate, earnings per share and cash flows and Prosperity's future capital expenditures and dividends, future financial condition and changes therein, including changes in Prosperity's loan portfolio and allowance for loan losses, future capital structure or changes therein, as well as the plans and objectives of management for Prosperity's future operations, future or proposed acquisitions, the future or expected effect of acquisitions on Prosperity's operations, results of operations, financial condition, and future economic performance, statements about the anticipated benefits of the proposed transaction, and statements about the assumptions underlying any such statement, as well as expectations regarding the effects of the COVID-19 pandemic on the Bank's operating income, financial condition and cash flows. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of Prosperity's control, which may cause actual results to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties include but are not limited to whether Prosperity can: successfully identify acquisition targets and integrate the businesses of acquired companies and banks; continue to sustain its current internal growth rate or total growth rate; provide products and services that appeal to its customers; continue to have access to debt and equity capital markets; and achieve its sales objectives. Other risks include, but are not limited to: the possibility that credit quality could deteriorate; actions of competitors; changes in laws and regulations (including changes in governmental interpretations of regulations and changes in accounting standards); the possibility that the anticipated benefits of an acquisition transaction, are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of two companies or as a result of the strength of the economy and competitive factors generally; a deterioration or downgrade in the credit quality and credit agency ratings of the securities in Prosperity's securities portfolio; customer and consumer demand, including customer and consumer response to marketing; effectiveness of spending, investments or programs; fluctuations in the cost and availability of supply chain resources; economic conditions, including currency rate, interest rate and commodity price fluctuations; the effect, impact potential duration or other implications of the COVID-19 pandemic; and weather. These and various other factors are discussed in Prosperity Bancshares' Annual Report on Form 10-K for the year ended December 31, 2021 and other reports and statements Prosperity Bancshares has filed with the Securities and Exchange Commission ("SEC"). Copies of the SEC filings for Prosperity Bancshares may be downloaded from the Internet at no charge from http://www.prosperitybankusa.com.

View original content:https://www.prnewswire.com/news-releases/prosperity-bancshares-inc-announces-common-stock-dividend-301725260.html

SOURCE Prosperity Bancshares, Inc.

FAQ

What is the dividend amount declared by Prosperity Bancshares for Q1 2023?

The dividend amount is $0.55 per share.

When is the dividend payable for Prosperity Bancshares?

The dividend is payable on April 3, 2023.

What is the record date for receiving the dividend from Prosperity Bancshares?

The record date is March 15, 2023.

What is the market capitalization of Prosperity Bancshares?

As of September 30, 2022, the market capitalization is $37.844 billion.

What services does Prosperity Bancshares offer?

Prosperity Bancshares provides personal banking services, digital solutions, mortgage services, and wealth management.