Commerce Bancshares, Inc. Declares Cash Dividend on Common Stock

Rhea-AI Summary

Commerce Bancshares, Inc. (NASDAQ: CBSH) has declared a quarterly dividend of $0.27 per share, reflecting a 7% increase from the previous dividend of $0.252. This marks the 55th consecutive year of dividend increases for the company. The dividend will be payable on March 27, 2023, to shareholders on record by March 7, 2023. As of December 31, 2022, the company holds $31.9 billion in assets, continuing to provide comprehensive banking services across the Midwest.

Positive

• Quarterly dividend increased by 7% to $0.27 per share.
• 55 consecutive years of dividend increases demonstrate company reliability.
• Total assets of $31.9 billion provide a strong financial foundation.

Negative

• None.

KANSAS CITY, Mo.--(BUSINESS WIRE)-- Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock, which compares to the prior dividend of $0.252 as adjusted for the 5% stock dividend that was paid on December 19, 2022. This represents an increase in the quarterly dividend per share of 7% and marks the 55^th consecutive year that the Company has increased its regular cash dividend per share. The dividend is payable on March 27, 2023 to stockholders of record at the close of business on March 7, 2023.

About Commerce Bancshares, Inc.

With $31.9 billion in assets¹, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered bank holding company offering a full line of banking services through its subsidiaries, including payment solutions, investment management and securities brokerage. One of its subsidiaries, Commerce Bank, leverages nearly 160 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., Commerce Bank currently operates full-service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City, and Denver. It also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at www.commercebank.com.

¹As of December 31, 2022

View source version on businesswire.com: https://www.businesswire.com/news/home/20230203005396/en/

Matt Burkemper (314) 746-7485

Matthew.Burkemper@CommerceBank.com

Source: Commerce Bancshares, Inc.

FAQ

What is the new dividend amount for Commerce Bancshares (CBSH)?

The new quarterly dividend amount is $0.27 per share.

When will the dividend for CBSH be paid?

The dividend is payable on March 27, 2023.

What was the previous dividend amount for CBSH?

The previous dividend amount was $0.252 per share.

How long has CBSH been increasing its dividends?

Commerce Bancshares has increased its regular cash dividend for 55 consecutive years.

What are the total assets of Commerce Bancshares (CBSH)?

As of December 31, 2022, Commerce Bancshares has total assets of $31.9 billion.