BancorpSouth Bank Declares Quarterly Common and Preferred Dividend

Rhea-AI Summary

BancorpSouth Bank (NYSE: BXS) declared a quarterly cash dividend of $0.20 per share of common stock, payable on January 3, 2022, with a record date of December 15, 2021. The dividend also applies to legacy Cadence shareholders following the merger with Cadence Bancorporation, effective October 29, 2021. Additionally, the board declared a cash dividend of $0.34375 per share of Series A Preferred Stock, payable on November 22, 2021, to shareholders of record by November 5, 2021. Net income for Q3 2021 was $70.4 million, or $0.65 per diluted share.

Positive

• Declaring a quarterly cash dividend of $0.20 per common share enhances shareholder returns.
• Net income available to common shareholders was $70.4 million in Q3 2021, indicating strong financial performance.

Negative

• None.

TUPELO, Miss., Oct. 27, 2021 /PRNewswire/ -- At its regular quarterly meeting today, the Board of Directors of BancorpSouth Bank (NYSE: BXS) (the company) declared a quarterly cash dividend of $0.20 per share of common stock.  The common stock dividend is payable on January 3, 2022, to shareholders of record at the close of business on December 15, 2021.  Subject to the satisfaction of customary closing conditions, the company expects to complete its pending merger with Cadence Bancorporation, the parent company of Cadence Bank N.A., effective October 29, 2021.  Accordingly, legacy Cadence shareholders, who receive shares of company common stock in the merger and continue to hold such shares as of the record date, will be eligible to receive this dividend. 

The board of directors also declared a quarterly cash dividend of $0.34375 per share of Series A Preferred Stock.  The preferred stock dividend is payable on November 22, 2021, to shareholders of record at the close of business on November 5, 2021.

BancorpSouth earlier reported financial results for the third quarter of 2021. Net income available to common shareholders was $70.4 million, or $0.65 per diluted share, and net operating income available to common shareholders – excluding MSR – was $73.3 million, or $0.68 per diluted share.

About BancorpSouth Bank
BancorpSouth Bank (NYSE: BXS) is headquartered in Tupelo, Mississippi, with approximately $28 billion in assets.  BancorpSouth operates approximately 315 full-service branch locations as well as additional mortgage, insurance, and loan production offices in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois.  BancorpSouth is committed to a culture of respect, diversity, and inclusion in both its workplace and communities. To learn more, visit our Community Commitment page at www.bancorpsouth.com; "Like" us on Facebook; follow us on Twitter and Instagram:  @MyBXS; or connect with us through LinkedIn.

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SOURCE BancorpSouth Bank

FAQ

What is the dividend amount declared by BancorpSouth Bank (BXS)?

BancorpSouth Bank declared a quarterly cash dividend of $0.20 per share of common stock.

When is the dividend payment date for BancorpSouth Bank (BXS)?

The dividend payment date for BancorpSouth Bank is January 3, 2022.

What is the record date for the common stock dividend of BancorpSouth Bank (BXS)?

The record date for the common stock dividend is December 15, 2021.

What was the net income reported by BancorpSouth Bank (BXS) for Q3 2021?

BancorpSouth Bank reported a net income of $70.4 million for Q3 2021.

What dividend did BancorpSouth Bank (BXS) declare for preferred stock?

BancorpSouth Bank declared a cash dividend of $0.34375 per share of Series A Preferred Stock.

What is the payment date for the preferred stock dividend of BancorpSouth Bank (BXS)?

The payment date for the preferred stock dividend is November 22, 2021.