International Bancshares Corporation Announces Cash Dividend

Rhea-AI Summary

International Bancshares Corporation (NASDAQ: IBOC) declared a cash dividend of .60 cents per share, payable on Aug. 29, 2022. Shareholders of record as of Aug. 16, 2022 will benefit from this dividend. The board cites the company’s solid financial performance and strong capital position as reasons for this decision, highlighting over 55 years of positive earnings. With total assets of approximately $16.3 billion, IBC operates 167 facilities in Texas and Oklahoma.

Positive

• Declaration of a cash dividend of .60 cents per share, enhancing shareholder value.
• Strong capital position and significant liquidity demonstrated in the company's financial performance.
• More than 55 years of positive earnings, reflecting stability and reliability.

Negative

• None.

LAREDO, Texas--(BUSINESS WIRE)-- International Bancshares Corporation (NASDAQ: IBOC) announced today that on Aug. 2, 2022, IBC’s Board of Directors approved the declaration of a .60 cents per share cash dividend for shareholders of record of Common Stock, $1.00 par value, as of the close of business on Aug. 16, 2022, payable on Aug. 29, 2022. “This discretionary cash dividend was made possible because of our Company’s long-standing record of positive financial performance, as demonstrated by our exceptionally strong capital position, significant liquidity and more than fifty-five 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 $16.3 billion in total assets and 167 facilities and 259 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/20220804006018/en/

Judith Wawroski

Treasurer and Principal Financial Officer

International Bancshares Corporation

(956) 722-7611 (Laredo)

Source: International Bancshares Corporation