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

Rhea-AI Summary

Bank OZK announces 53rd consecutive quarter of increased cash dividend on common stock, up 2.78% to $0.37 per share. Also declares dividend on preferred stock. Included in S&P High Yield Dividend Aristocrats® index since January 2018.

Positive

• Bank OZK continues its streak of increasing common stock dividend, demonstrating financial stability and potential for growth.
• Inclusion in S&P High Yield Dividend Aristocrats® index enhances Bank OZK's reputation and attracts investors.

Negative

• None.

Fifty-three consecutive quarters of increased quarterly cash dividend on its common stock

LITTLE ROCK, Ark., Oct. 02, 2023 (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 $0.37 per share, up $0.01, or 2.78% from the prior quarter. The common stock dividend is payable on October 20, 2023 to shareholders of record as of October 13, 2023. Bank OZK has increased its quarterly cash dividend on its common stock in each of the last fifty-three quarters.

The Board of Directors also declared a quarterly cash dividend of $0.28906 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 August 15, 2023 through, but excluding November 15, 2023. The Series A Preferred Stock dividend is payable on November 15, 2023, to the holders of record of the Series A Preferred Stock at the close of business on November 1, 2023.

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 $30.76 billion in total assets as of June 30, 2023. For more information, visit www.ozk.com.

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.