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

Rhea-AI Summary

Commerce Bancshares, Inc. (NASDAQ: CBSH) has announced a 5% stock dividend payable on December 18, 2020, to shareholders of record as of December 2, 2020. Additionally, a quarterly dividend of $0.27 per share will also be issued on the same date, excluding shares issued from the stock dividend. This dividend reflects the company's commitment to return value to its shareholders.

Positive

• Declaration of a 5% stock dividend, reflecting shareholder value.
• Quarterly dividend of $0.27 per share enhances income for shareholders.

Negative

• None.

KANSAS CITY, Mo.--(BUSINESS WIRE)--Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors approved a 5 percent common stock dividend payable on December 18, 2020 to shareholders of record at the close of business on December 2, 2020. Statements reflecting the issuance of shares as a result of the stock dividend should be mailed on or about December 18, 2020. 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 Board of Directors also declared a quarterly dividend of $0.27 per share on the Company's common stock payable December 18, 2020, to stockholders of record at the close of business on December 2, 2020 (the dividend will not be payable on any shares to be issued pursuant to the 5% stock dividend).

About Commerce Bancshares, Inc.

With $31.5 billion in assets¹, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered bank holding company offering a full line of banking services, including payment solutions, investment management and securities brokerage. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., leverages more than 150 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, 2020