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

Rhea-AI Summary

Commerce Bancshares, Inc. declares a quarterly dividend of $0.27 per share on its common stock payable on December 18, 2023. The company also approves a 5% common stock dividend payable on December 19, 2023. No fractional shares will be issued.

Positive

• Commerce Bancshares, Inc. declares a quarterly dividend of $0.27 per share on its common stock payable on December 18, 2023.
• The company approves a 5% common stock dividend payable on December 19, 2023.

Negative

• No negative takes found.

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 payable December 18, 2023, to stockholders of record at the close of business on December 4, 2023.

The Board of Directors also approved a 5% common stock dividend payable on December 19, 2023 to shareholders of record at the close of business on December 4, 2023. Statements reflecting the issuance of shares as a result of the stock dividend should be mailed on or about December 19, 2023. 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.

About Commerce Bancshares, Inc.

With $31.4 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. 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.

1. As of September 30, 2023

View source version on businesswire.com: https://www.businesswire.com/news/home/20231027787193/en/

Matt Burkemper (314) 746-7485

Matthew.Burkemper@CommerceBank.com

Source: Commerce Bancshares, Inc.

FAQ

When will the quarterly dividend be payable?

The quarterly dividend will be payable on December 18, 2023.

What is the amount of the quarterly dividend?

The amount of the quarterly dividend is $0.27 per share.

When will the common stock dividend be payable?

The common stock dividend will be payable on December 19, 2023.

What is the percentage of the common stock dividend?

The common stock dividend is 5%.

Will fractional shares be issued for the stock dividend?

No, fractional shares will not be issued.

How will shareholders receive cash for fractional interests?

Shareholders will receive cash for fractional interests based on the market value of the stock on the record date.