Baycom Corp Increases Quarterly Cash Dividend 100% to $0.10 Per Share

Rhea-AI Summary

BayCom Corp (NASDAQ: BCML) has announced a quarterly cash dividend of $0.10 per share, doubling the previous $0.05 dividend declared on November 16, 2022. This dividend will be paid on April 14, 2023, to shareholders of record by March 10, 2023. The company, operating through its subsidiary United Business Bank, provides various financial services across California, Washington, New Mexico, and Colorado. The dividend increase reflects the company's commitment to returning value to its shareholders and signifies confidence in its ongoing financial health.

Positive

• Quarterly cash dividend increased to $0.10 per share, a 100% increase over the previous dividend.
• Demonstrates company confidence and commitment to returning value to shareholders.

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 $0.10 per share on the Company's outstanding common stock, which represents an increase of 100% over the $0.05 per share quarterly dividend declared on November 16, 2022. The cash dividend will be payable on April 14, 2023 to shareholders of record as of the close of business on March 10, 2023.

About BayCom Corp

BayCom Corp, through its wholly owned operating subsidiary, United Business Bank, offers a full-range of loans, including SBA, FSA and USDA guaranteed loans, and deposit products and services to businesses and its affiliates in California, Washington, New Mexico and Colorado. United Business Bank also facilitates tax-free exchanges through its Bankers Exchange Division. United Business Bank is an Equal Housing Lender and a member of FDIC. The Company is traded on the NASDAQ under the symbol “BCML”. More information on BayCom and United Business Bank is available at 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 for the year ended December 31, 2021. 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/20230223005907/en/

BayCom Corp

Keary Colwell, 925-476-1800

kcolwell@ubb-us.com

Source: BayCom Corp

FAQ

What is the upcoming dividend amount for BayCom Corp (BCML)?

The upcoming dividend amount for BayCom Corp (BCML) is $0.10 per share.

When will the dividend for BayCom Corp be paid?

The dividend will be paid on April 14, 2023.

What was the previous dividend amount for BCML?

The previous dividend amount was $0.05 per share.

What is the record date for BayCom Corp's dividend?

The record date for the dividend is March 10, 2023.

How often does BayCom Corp pay dividends?

BayCom Corp pays dividends quarterly.