BayCom Corp Announces Cash Dividend

Rhea-AI Summary

BayCom Corp (NASDAQ: BCML) announced its first cash dividend of $0.05 per share, marking a significant milestone in the company's history. The dividend will be payable on April 15, 2022, to shareholders on record as of March 11, 2022. CEO George Guarini expressed confidence in the company’s financial strength and commitment to shareholder value by indicating plans for future dividends. The announcement reflects the company's positive outlook on cash generation and long-term strategies.

Positive

• First-ever cash dividend of $0.05 per share strengthens shareholder value.
• Indicates company confidence in future cash generation and financial strength.
• Commitment to continued dividend payments enhances trust among investors.

Negative

• None.

WALNUT CREEK, Calif.--(BUSINESS WIRE)-- BayCom Corp (NASDAQ: BCML) (“BayCom” or the “Company”), the parent company of United Business Bank, today announced that its Board of Directors declared a quarterly cash dividend of $.05 per share on the Company's outstanding common stock. The cash dividend will be payable on April 15, 2022 to shareholders of record as of the close of business on March 11, 2022.

"We are pleased with the payment of this initial cash dividend to our shareholders," said George Guarini, President and Chief Executive Officer of the Company. "The payment represents the first time in the Company’s history that we have declared a dividend. This represents our long-term commitment to enhancing shareholder value, and based on our confidence in the strength of our Company and expected cash generation, we intend to continue paying a similar quarterly dividend in the future."

This press release contains statements that the Company believes are "forward-looking statements." These statements relate to the Company's financial condition, results of operations, plans, objectives, future performance or business and ability to continue paying dividends. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, and actual results and performance in future periods may be materially different from any future results or performance suggested by the forward-looking statements in this release. Factors that might cause such differences include, but are not limited to, those identified in our risk factors contained in BayCom's Annual Report on Form 10-K for the year ended December 31, 2020. Such forward-looking statements speak only as of the date of this release. BayCom expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in the Company's expectations of results or any change in events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220216006197/en/

BayCom Corp

Keary Colwell, 925-476-1800

kcolwell@ubb-us.com

Source: BayCom Corp

FAQ

What is the dividend amount declared by BayCom Corp?

BayCom Corp has declared a quarterly cash dividend of $0.05 per share.

When will BayCom Corp's dividend be payable?

The dividend will be payable on April 15, 2022.

What is the record date for receiving the BayCom dividend?

The record date to receive the dividend is March 11, 2022.

Is this the first dividend ever paid by BayCom Corp?

Yes, this is the first cash dividend declared in the company's history.

What does the dividend declaration imply for BayCom Corp's future?

The company expresses confidence in its financial strength and plans to continue similar dividends in the future.