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

Rhea-AI Summary

Bank OZK (Nasdaq: OZK) announced a quarterly cash dividend of $0.35 per share, marking a 2.94% increase over the prior quarter, part of its track record of 51 consecutive quarters of increased dividends. This dividend is payable on April 21, 2023, to shareholders of record as of April 14, 2023.

Additionally, the Bank declared a dividend of $0.28906 per share on its Series A Preferred Stock (Nasdaq: OZKAP), payable on May 15, 2023. Bank OZK has been included in the S&P High Yield Dividend Aristocrats® index since January 2018 due to its consistent dividend increases.

Positive

• Quarterly cash dividend increased by 2.94% to $0.35 per share.
• 51 consecutive quarters of increased dividends demonstrate strong shareholder return.
• Inclusion in S&P High Yield Dividend Aristocrats® index indicates financial stability and commitment to dividends.

Negative

• None.

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

LITTLE ROCK, Ark., April 03, 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 $0.35 per share, up $0.01, or 2.94% from the prior quarter. The common stock dividend is payable on April 21, 2023 to shareholders of record as of April 14, 2023. Bank OZK has increased its quarterly cash dividend on its common stock in each of the last fifty-one 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 February 15, 2023 through, but excluding May 15, 2023. The Series A Preferred Stock dividend is payable on May 15, 2023, to the holders of record of the Series A Preferred Stock at the close of business on May 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 $27.66 billion in total assets as of December 31, 2022. 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.

FAQ

What is the dividend amount declared by Bank OZK for April 2023?

Bank OZK declared a quarterly cash dividend of $0.35 per share for April 2023.

When will the dividend be paid to Bank OZK shareholders?

The dividend will be paid on April 21, 2023, to shareholders of record as of April 14, 2023.

What is the dividend for the Series A Preferred Stock (OZKAP)?

The dividend for the Series A Preferred Stock (OZKAP) is $0.28906 per share, payable on May 15, 2023.

How long has Bank OZK been increasing its dividends?

Bank OZK has increased its dividends for 51 consecutive quarters.

Is Bank OZK included in any dividend index?

Yes, Bank OZK is included in the S&P High Yield Dividend Aristocrats® index since January 2018.