South Plains Financial, Inc. Announces 7% Increase to Quarterly Cash Dividend

Rhea-AI Summary

South Plains Financial, Inc. (NASDAQ:SPFI), the parent company of City Bank, has announced a 7% increase in its quarterly cash dividend. The Board of Directors has declared a dividend of $0.15 per share of common stock, up from the previous dividend declared in July 2024. This increased dividend will be payable on November 12, 2024 to shareholders of record as of the close of business on October 28, 2024. The announcement demonstrates South Plains' commitment to delivering value to its shareholders and reflects the company's confidence in its financial position and future prospects.

Positive

• 7% increase in quarterly cash dividend
• Dividend raised to $0.15 per share
• Demonstrates company's confidence in financial position

Negative

• None.

News Market Reaction – SPFI

+0.06%

1 alert

+0.06% News Effect

On the day this news was published, SPFI gained 0.06%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

LUBBOCK, Texas, Oct. 17, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains”), the parent company of City Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per share of common stock, a 7% increase from the most recent quarterly cash dividend declared in July 2024. The dividend is payable on November 12, 2024 to shareholders of record as of the close of business on October 28, 2024.

About South Plains Financial, Inc.

South Plains is the bank holding company for City Bank, a Texas state-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, El Paso, Greater Houston, the Permian Basin, and College Station, Texas markets, and the Ruidoso, New Mexico market. South Plains provides a wide range of 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 investment, trust and mortgage services. Please visit https://www.spfi.bank for more information.

Contact:	Mikella Newsom, Chief Risk Officer and Secretary
	investors@city.bank
	(866) 771-3347

Source: South Plains Financial, Inc.

FAQ

What is the new quarterly dividend amount for South Plains Financial (SPFI)?

South Plains Financial (SPFI) has increased its quarterly cash dividend to $0.15 per share of common stock.

When will South Plains Financial (SPFI) pay its next dividend?

South Plains Financial (SPFI) will pay its next dividend on November 12, 2024 to shareholders of record as of October 28, 2024.

By what percentage did South Plains Financial (SPFI) increase its dividend?

South Plains Financial (SPFI) increased its quarterly cash dividend by 7% compared to the previous dividend declared in July 2024.

What is the record date for South Plains Financial's (SPFI) upcoming dividend?

The record date for South Plains Financial's (SPFI) upcoming dividend is October 28, 2024.