Westamerica Bancorporation Declares Quarterly Cash Dividend
Rhea-AI Summary
Westamerica Bancorporation (NASDAQ: WABC) has declared a quarterly cash dividend of $0.44 per share on common stock. The dividend will be payable on August 16, 2024, to shareholders of record as of August 5, 2024. CEO David Payne highlighted the company's reliable earnings, financial strength, and conservative risk profile. In its recent financial report, Westamerica announced net income of $35.5 million for Q2 2024, translating to $1.33 diluted earnings per share. Westamerica Bank, the company's subsidiary, operates banking and trust offices throughout Northern and Central California.
Positive
- Declared quarterly cash dividend of $0.44 per share
- Reported net income of $35.5 million for Q2 2024
- Achieved $1.33 diluted earnings per common share in Q2 2024
- CEO cites reliable earnings stream and financial strength
Negative
- None.
SAN RAFAEL, Calif., July 25, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Westamerica Bancorporation (NASDAQ: WABC) today declared a quarterly cash dividend of
Chairman, President and CEO David Payne stated, “This quarterly dividend recognizes Westamerica’s reliable earnings stream, financial strength and conservative risk profile.”
On July 18, 2024, Westamerica reported
Westamerica Bancorporation, through its wholly owned subsidiary, Westamerica Bank, operates banking and trust offices throughout Northern and Central California.
Westamerica Bancorporation Web Address: www.westamerica.com
For additional information contact:
Westamerica Bancorporation
1108 Fifth Avenue, San Rafael, CA 94901
Robert A. Thorson — SVP & Treasurer
707-863-6840
investments@westamerica.com
FORWARD-LOOKING INFORMATION:
The following appears in accordance with the Private Securities Litigation Reform Act of 1995:
This press release may contain forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”
Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors — many of which are beyond the Company’s control — could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. The Company’s most recent reports filed with the Securities and Exchange Commission, including the annual report for the year ended December 31, 2023 filed on Form 10-K and quarterly report for the quarter ended March 31, 2024 filed on Form 10-Q, describe some of these factors, including certain credit, interest rate, operational, liquidity and market risks associated with the Company’s business and operations. Other factors described in these reports include changes in business and economic conditions, competition, fiscal and monetary policies, disintermediation, cyber security risks, legislation including the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Sarbanes-Oxley Act of 2002 and the Gramm-Leach-Bliley Act of 1999, and mergers and acquisitions.
Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.
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