Home BancShares, Inc. Announces Increase in Fourth Quarter Cash Dividend

Rhea-AI Summary

Home BancShares, Inc. (NASDAQ: HOMB) has declared a quarterly cash dividend of $0.14 per share, payable on December 2, 2020, to shareholders of record by November 11, 2020. This marks a 7.7% increase from the previous dividend of $0.13 per share. Chairman John Allison emphasized the company's commitment to maintaining a strong capital position while rewarding shareholders amidst ongoing pandemic challenges.

Positive

• Quarterly dividend increased from $0.13 to $0.14 per share.
• Demonstrated commitment to rewarding shareholders.

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• None.

CONWAY, Ark., Oct. 21, 2020 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NASDAQ GS: HOMB), parent company of Centennial Bank, today announced that its Board of Directors has declared a regular $0.14 per share quarterly cash dividend payable December 2, 2020, to shareholders of record November 11, 2020. This cash dividend represents a $0.01 per share, or 7.7%, increase over the $0.13 cash dividend paid during the fourth quarter of 2019 and the third quarter of 2020.

“Our Board voted to increase our regular quarterly dividend from 13 cents per share to 14 cents per share,” said John Allison, Chairman. “We have and will continue to focus on maintaining a strong capital position in order to protect as well as to position the Company for future success. As the world gains more clarity on the repercussions of the current pandemic, we feel that it is prudent to reward our loyal shareholders while continuing to protect our capital for future endeavors.”
Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Its wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has branch locations in Arkansas, Florida, South Alabama and New York City. The Company’s common stock is traded through the NASDAQ Global Select Market under the symbol “HOMB.”

This release may contain forward-looking statements regarding the Company’s plans, expectations, goals and outlook for the future. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risk and uncertainties. Various factors could cause actual results to differ materially from those contemplated by the forward-looking statements. These factors include, but are not limited to, the following:  economic conditions, credit quality, interest rates, loan demand, real estate values and unemployment; disruptions, uncertainties and related effects on our business and operations as a result of the ongoing coronavirus (COVID-19) pandemic and measures that have been or may be implemented or imposed in response to the pandemic, including the impact on, among other things, credit quality and liquidity; the ability to identify, complete and successfully integrate new acquisitions; legislative and regulatory changes and risks and expenses associated with current and future legislation and regulations, including those in response to the COVID-19 pandemic; technological changes and cybersecurity risks; the effects of changes in accounting policies and practices, including from the adoption of the current expected credit loss (CECL) model on January 1, 2020; changes in governmental monetary and fiscal policies; political instability; competition from other financial institutions; potential claims, expenses and other adverse effects related to current or future litigation, regulatory examinations or other government actions; changes in the assumptions used in making the forward-looking statements; and other factors described in reports we file with the Securities and Exchange Commission (the “SEC”), including those factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 26, 2020, and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, filed with the SEC on August 5, 2020.

FOR MORE INFORMATION CONTACT:
Donna Townsell
Senior Executive Vice President &
Director of Investor Relations
(501) 328-4625

FAQ

What is the declared dividend amount for HOMB?

Home BancShares has declared a dividend of $0.14 per share.

When will the dividend for HOMB be paid?

The dividend will be payable on December 2, 2020.

When is the record date for HOMB's dividend?

The record date for the dividend is November 11, 2020.

Is the dividend for HOMB increasing?

Yes, it represents a 7.7% increase over the previous dividend.

What factors could affect HOMB's future performance?

Factors include economic conditions, credit quality, and the impact of the COVID-19 pandemic.