BayCom Corp Announces Cash Dividend

Rhea-AI Summary

BayCom Corp (BCML) declares a quarterly cash dividend of $0.10 per share on its common stock, payable on April 12, 2024, to shareholders of record as of March 8, 2024.

Insights

Financial Analyst

The declaration of a quarterly cash dividend by BayCom Corp represents a tangible return on investment for shareholders. The dividend yield, calculated by dividing the annual dividends per share by the stock's price per share, is a critical metric for income-focused investors. This announcement may positively influence investor sentiment and could potentially lead to an uptick in the stock's demand, thus possibly affecting its price.

It's essential to consider the payout ratio, which is the percentage of earnings paid to shareholders in dividends. A sustainable payout ratio, typically below 60% for healthy companies, suggests that the firm is not compromising its growth or operational funds. Stakeholders should compare this ratio to industry peers to gauge BayCom's financial health and dividend policy's sustainability.

Market Research Analyst

This dividend announcement could be indicative of BayCom Corp's financial stability and confidence in its cash flow management. In the banking sector, consistent dividend payments are often seen as a sign of a company's maturity and reliability. Investors may interpret regular dividends as a signal of strong governance and a stable customer base, which is particularly important for regional banks like United Business Bank that rely on local market penetration and customer loyalty.

However, investors should also assess the broader economic context, such as interest rate trends and regulatory changes, which can impact the banking industry's profitability. These factors can influence the company's ability to maintain or increase dividend payments in the future.

Economist

Dividend distributions can have broader economic implications, particularly for the local economies where the shareholders reside. Cash dividends increase the disposable income of shareholders, which can lead to increased consumer spending and stimulate economic activity. For a community-focused bank like United Business Bank, this can have a positive feedback loop, potentially leading to more business opportunities and loan demand within its operational regions.

Moreover, the timing and consistency of dividend payments can reflect the company's economic outlook. A steady dividend may suggest that BayCom Corp's management expects continued operational profitability despite potential economic headwinds, such as fluctuating interest rates or economic slowdowns.

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 (“the Board”) declared a quarterly cash dividend of $0.10 per share on the Company's outstanding common stock. The cash dividend will be payable on April 12, 2024 to shareholders of record as of the close of business on March 8, 2024.

About BayCom Corp

The Company, through its wholly owned operating subsidiary, United Business Bank, offers a full-range of loans, including SBA, CalCAP, FSA and USDA guaranteed loans, and deposit products and services to businesses and its affiliates in California, Washington, New Mexico and Colorado. The Bank is an Equal Housing Lender and a member of FDIC. The Company is traded on the NASDAQ under the symbol “BCML”. For more information, go to www.unitedbusinessbank.com.

Safe-Harbor Statement

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. 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/A for the year ended December 31, 2022. 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/20240222323947/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 (BCML)?

BayCom Corp (BCML) declared a quarterly cash dividend of $0.10 per share on its outstanding common stock.

When will the dividend be payable to shareholders of BayCom Corp (BCML)?

The cash dividend declared by BayCom Corp (BCML) will be payable on April 12, 2024.

Who is eligible to receive the dividend from BayCom Corp (BCML)?

Shareholders of record as of the close of business on March 8, 2024, are eligible to receive the dividend from BayCom Corp (BCML).