Bank OZK Announces Increase to Quarterly Common Stock Dividend and Declares Preferred Stock Dividend

Rhea-AI Summary

Bank OZK announced a quarterly cash dividend of $0.30 per share, marking a 3.45% increase from the previous quarter. This marks the 46th consecutive quarter of dividend increases. The dividend is payable on January 21, 2022, to shareholders of record as of January 14, 2022. Additionally, a dividend of $0.32 per share on the 4.625% Series A Preferred Stock will be paid on February 15, 2022. Bank OZK has been part of the S&P High Yield Dividend Aristocrats® index since January 2018, highlighting its consistent dividend policy.

Positive

• Quarterly cash dividend increased from $0.29 to $0.30 per share.
• 46 consecutive quarters of dividend increases.
• Inclusion in the S&P High Yield Dividend Aristocrats® index.

Negative

• None.

Forty-six consecutive quarters of increased quarterly cash dividend on its common stock

LITTLE ROCK, Ark., Jan. 03, 2022 (GLOBE NEWSWIRE) -- Bank OZK (the “Bank”) (Nasdaq: OZK) announced its Board of Directors declared a quarterly cash dividend on the Bank’s common stock of $0.30 per share, up $0.01, or 3.45%, from the prior quarter. The common stock dividend is payable on January 21, 2022 to shareholders of record as of January 14, 2022. Bank OZK has increased its quarterly cash dividend on its common stock in each of the last forty-six quarters.

The Board of Directors also declared a quarterly cash dividend of $0.32 per share on the Bank’s 4.625% Series A Non-Cumulative Perpetual Preferred Stock (“Series A Preferred Stock”) (Nasdaq: OZKAP) for the period covering November 4, 2021 through, but excluding February 15, 2022. The Series A Preferred Stock dividend is payable on February 15, 2022, to the holders of record of the Series A Preferred Stock at the close of business on February 1, 2022.

Bank OZK’s consistent track record of increasing its common stock dividend has led to it being included in the S&P High Yield Dividend Aristocrats® index (Ticker: SPHYDA) since January 2018. The index consists of members of the S&P Composite 1500® that have followed a managed-dividends policy of consistently increasing common stock dividends every year for at least 20 years, and that meet minimum float-adjusted market capitalization and liquidity requirements. For more information on the index, visit www.spglobal.com/spdji.

GENERAL INFORMATION
Bank OZK (Nasdaq: OZK) is a regional bank providing innovative financial solutions delivered by expert bankers with a relentless pursuit of excellence. Established in 1903, Bank OZK conducts banking operations with over 240 offices in eight states including Arkansas, Georgia, Florida, North Carolina, Texas, New York, California and Mississippi and had $26.1 billion in total assets as of September 30, 2021. Bank OZK can be found at www.ozk.com and on Facebook, Twitter and LinkedIn or contacted at (501) 978-2265 or P.O. Box 8811, Little Rock, Arkansas 72231-8811.

The Bank files annual, quarterly and current reports, proxy materials, and other information required by the Securities Exchange Act of 1934 with the Federal Deposit Insurance Corporation (“FDIC”), copies of which are available electronically at the FDIC’s website at https://efr.fdic.gov/fcxweb/efr/index.html and are also available on the Bank’s investor relations website at ir.ozk.com. To receive automated email alerts for these materials please visit https://ir.ozk.com/other/email-alerts to sign up.

Investor Relations Contact:						Tim Hicks, (501) 978-2336
Media Contact:						Candace Graham, (501) 320-4165

 

FAQ

What is the recent dividend amount declared by Bank OZK?

Bank OZK declared a quarterly cash dividend of $0.30 per share.

When is the dividend payable?

The dividend is payable on January 21, 2022.

How long has Bank OZK been increasing its dividends?

Bank OZK has increased its quarterly cash dividend for 46 consecutive quarters.

What is the significance of the S&P High Yield Dividend Aristocrats® index?

The index includes companies that have consistently increased dividends for at least 20 years.

What is the dividend amount for the Series A Preferred Stock?

The quarterly cash dividend for the Series A Preferred Stock is $0.32 per share.