International Bancshares Corporation Announces Cash Dividend

Rhea-AI Summary

International Bancshares Corporation (NASDAQ: IBOC) has declared a cash dividend of $0.63 per share for shareholders of record of Common Stock. The dividend will be payable on August 25, 2023, to shareholders of record as of August 11, 2023. The company attributes the dividend to its strong financial performance, capital position, liquidity, and positive earnings over the years.

LAREDO, Texas--(BUSINESS WIRE)-- International Bancshares Corporation (NASDAQ: IBOC) announced today that on July 25, 2023, IBC’s Board of Directors approved the declaration of a .63 cents per share cash dividend for shareholders of record of Common Stock, $1.00 par value, as of the close of business on August 11, 2023, payable on August 25, 2023. “This discretionary cash dividend was made possible because of our Company’s continued record of superior financial results. Adding to this strong performance is our exceptionally strong capital position, significant liquidity, and more than fifty-six years of positive earnings. We remain committed to continue to manage our Company responsibly to position us for continued success and to enhance the value of our Company for our shareholders,” said Dennis E. Nixon, president and CEO of IBC.

IBC is a multi-bank financial holding company headquartered in Laredo, Texas, with approximately $15.1 billion in total assets and 167 facilities and 257 ATMs serving 75 communities in Texas and Oklahoma.

“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts contain forward-looking information with respect to plans, projections or future performance of IBC and its subsidiaries, the occurrence of which involve certain risks and uncertainties detailed in IBC’s filings with the Securities and Exchange Commission.

Copies of IBC’s SEC filings and Annual Report (as an exhibit to the 10-K) may be downloaded from the SEC filings site located at http://www.sec.gov/edgar.shtml or IBC’s website at http://www.ibc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230727207062/en/

Judith Wawroski

Treasurer and Principal Financial Officer

International Bancshares Corporation

(956) 722-7611 (Laredo)

Source: International Bancshares Corporation

FAQ

What is the dividend declared by International Bancshares Corporation?

International Bancshares Corporation has declared a cash dividend of $0.63 per share.

When will the dividend be paid?

The dividend will be payable on August 25, 2023.

Who is eligible to receive the dividend?

Shareholders of record of Common Stock as of the close of business on August 11, 2023, will be eligible to receive the dividend.

What is the reason behind the dividend declaration?

The dividend declaration is attributed to International Bancshares Corporation's strong financial performance, capital position, liquidity, and positive earnings over the years.

Where can I find more information about International Bancshares Corporation's filings?

More information about International Bancshares Corporation's SEC filings and Annual Report can be found on the SEC filings site located at http://www.sec.gov/edgar.shtml or IBC's website at http://www.ibc.com.