Bank7 Corp. Announces a 14.2% Quarterly Dividend Increase; Its Fifth Consecutive Annual Dividend Increase

Rhea-AI Summary

Bank7 Corp. (NASDAQ: BSVN) has announced a 14.2% increase in its quarterly cash dividend, raising it from $0.21 to $0.24 per common share. This marks the company's fifth consecutive annual dividend increase, demonstrating consistent growth and financial strength. The dividend will be paid on October 9, 2024, to shareholders of record as of September 26, 2024.

CEO Thomas L. Travis highlighted that this increase reflects the company's top-tier earnings and confidence in future performance. Bank7 Corp. continues to build capital through strong earnings while maintaining a dividend payout ratio below industry averages, balancing growth with shareholder returns.

Positive

• Quarterly dividend increased by 14.2% to $0.24 per share
• Fifth consecutive annual dividend increase
• Strong earnings allowing for capital buildup
• Dividend payout ratio maintained below industry averages
• Management expresses confidence in earnings performance

Negative

• None.

OKLAHOMA CITY, July 26, 2024 /PRNewswire/ -- Bank7 Corp. (NASDAQ: BSVN), the parent company of Oklahoma City-based Bank7 (the "Company"), is pleased to announce that its Board of Directors has declared an increase to its quarterly cash dividend to $0.24 per common share from the current $0.21 per common share. This dividend represents a 14.2% increase to the current dividend and is the fifth consecutive annual increase in BSVN's quarterly cash dividend. The dividend will be paid on October 9, 2024 to shareholders of record as of the close of business on September 26, 2024.

Thomas L. Travis, President and CEO of the Company said, "Today's announcement of our fifth consecutive annual increase to our quarterly dividend illustrates the consistent strength and growth of our top tier earnings and reflects our confidence in those earnings.  We continue to build capital due to those strong earnings and also by keeping our dividend payout ratio well below industry averages, yet at the same time, we provide a competitive dividend yield."

About Bank7 Corp.

We are Bank7 Corp., a bank holding company headquartered in Oklahoma City, Oklahoma. Through our wholly-owned subsidiary, Bank7, we operate twelve full-service branches in Oklahoma, the Dallas/Fort Worth, Texas metropolitan area, and Kansas. We are focused on serving business owners and entrepreneurs by delivering fast, consistent, and well-designed loan and deposit products to meet their financing needs. We intend to grow organically by selectively opening additional branches in our target markets as well as pursuing strategic acquisitions.

Cautionary Statements Regarding Forward-Looking Information

This communication contains a number of forward-looking statements. These forward-looking statements reflect Bank7 Corp.'s current views with respect to, among other things, future events and Bank7 Corp.'s financial performance. Any statements about Bank7 Corp.'s expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as "anticipate," "believes," "can," "could," "may," "predicts," "potential," "should," "will," "estimate," "plans," "projects," "continuing," "ongoing," "expects," "intends" and similar words or phrases. Any or all of the forward-looking statements in (or conveyed orally regarding) this presentation may turn out to be inaccurate. The inclusion of or reference to forward-looking information in this presentation should not be regarded as a representation by Bank7 Corp. or any other person that the future plans, estimates or expectations contemplated by Bank7 Corp. will be achieved.

These forward-looking statements are subject to significant uncertainties because they are based upon:  the amount and timing of future changes in interest rates, market behavior, and other economic conditions; future laws, regulations, and accounting principles; changes in regulatory standards and examination policies, and a variety of other matters.  These other matters include, among other things, the direct and indirect effect of economic conditions on interest rates, credit quality, loan demand, liquidity, and monetary and supervisory policies of banking regulators. Bank7 Corp. has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that Bank7 Corp. believes may affect its financial condition, results of operations, business strategy and financial needs. Bank7 Corp.'s actual results could differ materially from those anticipated in such forward-looking statements as a result of risks, uncertainties and assumptions that are difficult to predict. If one or more events related to these or other risks or uncertainties materialize, or if Bank7 Corp.'s underlying assumptions prove to be incorrect, actual results may differ materially from what Bank7 Corp. anticipates. You are cautioned not to place undue reliance on forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made and Bank7 Corp. undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as may be required by law. All forward-looking statements herein are qualified by these cautionary statements.

Contact:

Thomas Travis
President & CEO
(405) 810-8600

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SOURCE Bank7 Corp.

FAQ

What is the new quarterly dividend amount for Bank7 Corp. (BSVN)?

Bank7 Corp. (BSVN) has increased its quarterly dividend to $0.24 per common share, up from $0.21 previously.

When will Bank7 Corp. (BSVN) pay its next dividend?

Bank7 Corp. (BSVN) will pay its next dividend on October 9, 2024, to shareholders of record as of September 26, 2024.

How much has Bank7 Corp. (BSVN) increased its dividend?

Bank7 Corp. (BSVN) has increased its quarterly dividend by 14.2%, from $0.21 to $0.24 per common share.

How many consecutive years has Bank7 Corp. (BSVN) increased its dividend?

Bank7 Corp. (BSVN) has increased its dividend for five consecutive years, as of this announcement.