Westamerica Bancorporation Increases Quarterly Cash Dividend

Rhea-AI Summary

Westamerica Bancorporation (NASDAQ: WABC) has announced an increase in its quarterly cash dividend to $0.46 per share, representing a two-cent increase from the previous quarter. The dividend will be payable on May 16, 2025, to shareholders of record as of May 5, 2025.

The company reported strong financial performance with net income of $31.0 million for Q1 2025, translating to $1.16 diluted earnings per common share. CEO David Payne highlighted that this dividend increase reflects the company's reliable earnings stream, financial strength, and conservative risk profile.

Westamerica Bank, the company's wholly owned subsidiary, operates banking and trust offices throughout Northern and Central California.

Positive

• Quarterly dividend increased by $0.02 to $0.46 per share
• Strong Q1 2025 net income of $31.0 million
• Solid diluted EPS of $1.16 per share
• Company demonstrates financial strength and reliable earnings

Negative

• None.

SAN RAFAEL, Calif., April 24, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Westamerica Bancorporation (NASDAQ: WABC) today declared a quarterly cash dividend of $0.46 per share, which represents a two cent per share increase from the prior quarter, on common stock outstanding to shareholders of record at the close of business May 5, 2025. The dividend is payable May 16, 2025.

Chairman, President and CEO David Payne stated, “This increase in the quarterly dividend recognizes Westamerica’s reliable earnings stream, financial strength and conservative risk profile.”

On April 17, 2025, Westamerica reported $31.0 million in net income for the three months ended March 31, 2025, or $1.16 diluted earnings per common share.

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 – Investor Relations Contact 707-863-6090 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, 2024 filed on Form 10-K and quarterly report for the quarter ended September 30, 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.

FAQ

What is the new quarterly dividend amount for Westamerica Bancorporation (WABC) and when is it payable?

Westamerica Bancorporation's new quarterly dividend is $0.46 per share, payable on May 16, 2025, to shareholders of record as of May 5, 2025.

How much did Westamerica Bancorporation (WABC) increase its quarterly dividend?

Westamerica Bancorporation increased its quarterly dividend by two cents per share.

What was Westamerica Bancorporation's (WABC) net income for Q1 2025?

Westamerica Bancorporation reported net income of $31.0 million for Q1 2025, with diluted earnings of $1.16 per common share.

What regions does Westamerica Bank operate in?

Westamerica Bank operates banking and trust offices throughout Northern and Central California.