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

Rhea-AI Summary

Commerce Bancshares, Inc. (NASDAQ: CBSH) has declared a quarterly cash dividend of $0.265 per share payable on December 16, 2022, with the record date set for December 2, 2022. Additionally, a 5% stock dividend has been approved, also payable on December 19, 2022, to shareholders of record on the same date. No fractional shares will be issued, and cash will be given for any fractional interests based on market value. The total assets of Commerce Bancshares, Inc. were reported at $32.6 billion as of September 30, 2022.

Positive

• Quarterly cash dividend of $0.265 per share reinforces shareholder value.
• 5% stock dividend enhances shareholder equity.

Negative

• None.

KANSAS CITY, Mo.--(BUSINESS WIRE)-- Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.265 per share on the Company's common stock payable December 16, 2022, to stockholders of record at the close of business on December 2, 2022.

The Board of Directors also approved a 5% common stock dividend payable on December 19, 2022 to shareholders of record at the close of business on December 2, 2022. Statements reflecting the issuance of shares as a result of the stock dividend should be mailed on or about December 19, 2022. 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 $32.6 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 more than 155 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, 2022

View source version on businesswire.com: https://www.businesswire.com/news/home/20221028005442/en/

Matt Burkemper (314) 746-7485

Matthew.Burkemper@CommerceBank.com

Source: Commerce Bancshares, Inc.

FAQ

What is the dividend amount declared by Commerce Bancshares, Inc.?

Commerce Bancshares, Inc. declared a quarterly dividend of $0.265 per share.

When will the dividend be paid to shareholders of Commerce Bancshares, Inc.?

The dividend will be paid on December 16, 2022.

What is the record date for the dividend of CBSH?

The record date for the dividend is December 2, 2022.

What is the percentage of the stock dividend declared by CBSH?

A 5% stock dividend has been approved.

When will the 5% stock dividend be payable?

The stock dividend will be payable on December 19, 2022.