Commerce Bancshares, Inc. Declares Stock Dividend and Quarterly Cash Dividend on Common Stock

Rhea-AI Summary

Commerce Bancshares (NASDAQ: CBSH) has declared a quarterly cash dividend of $0.27 per share and a 5% stock dividend. The cash dividend will be paid on December 17, 2024, to stockholders of record as of December 3, 2024. The stock dividend is payable on December 18, 2024, with the same record date. No fractional shares will be issued, and shareholders will receive cash for fractional interests based on market value. Commerce Bancshares, with $31.5 billion in assets, operates banking facilities across the Midwest and maintains commercial offices in multiple major cities.

Positive

• Declared quarterly cash dividend of $0.27 per share
• Additional 5% stock dividend announced
• Strong asset base of $31.5 billion
• Extensive geographical presence across multiple metropolitan areas

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. The dividend is payable on December 17, 2024 to stockholders of record at the close of business on December 3, 2024.

The Board of Directors also approved a 5% common stock dividend payable on December 18, 2024 to shareholders of record at the close of business on December 3, 2024. Statements reflecting the issuance of shares as a result of the stock dividend should be mailed on or about December 18, 2024. No fractional shares will be issued, and shareholders will receive cash for such fractional interests based on the market value of the stock on the record date. The quarterly cash dividend will not be payable on any shares to be issued pursuant to the 5% stock dividend.

With $31.5 billion in assets¹, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a regional 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. Beyond the Midwest, Commerce also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids and wealth offices in Dallas, Houston and Naples. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial and wealth offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at www.commercebank.com.

¹As of September 30, 2024

View source version on businesswire.com: https://www.businesswire.com/news/home/20241025412210/en/

For more information, please contact:

Matt Burkemper (314) 746-7485

Matthew.Burkemper@CommerceBank.com

Source: Commerce Bancshares, Inc.

FAQ

When will Commerce Bancshares (CBSH) pay its quarterly dividend in December 2024?

Commerce Bancshares will pay its quarterly cash dividend of $0.27 per share on December 17, 2024, to stockholders of record as of December 3, 2024.

What is the stock dividend percentage announced by Commerce Bancshares (CBSH) for December 2024?

Commerce Bancshares announced a 5% stock dividend payable on December 18, 2024, to shareholders of record as of December 3, 2024.

How will Commerce Bancshares (CBSH) handle fractional shares from the stock dividend?

Shareholders will receive cash for fractional shares based on the market value of the stock on the record date of December 3, 2024.

What is Commerce Bancshares' (CBSH) total asset value as of September 2024?

Commerce Bancshares reported total assets of $31.5 billion as of September 30, 2024.