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

Rhea-AI Summary

Bank OZK (Nasdaq: OZK) has declared a quarterly cash dividend of $0.32 per share, reflecting a 3.23% increase from the previous quarter. This marks the 48th consecutive quarter of dividend increases, showcasing the bank’s strong financial performance. The dividend is payable on July 22, 2022 to shareholders as of July 15, 2022. Additionally, a dividend of $0.28906 per share on its Series A Preferred Stock is scheduled for August 15, 2022. Bank OZK has been part of the S&P High Yield Dividend Aristocrats index since January 2018.

Positive

• Increased dividend of $0.32 per share, up from $0.31, indicating strong profitability.
• Maintained dividend growth for 48 consecutive quarters, demonstrating commitment to returning value to shareholders.
• Inclusion in the S&P High Yield Dividend Aristocrats index highlights financial stability.

Negative

• None.

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

LITTLE ROCK, Ark., July 01, 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 $0.32 per share, up $0.01, or 3.23% from the prior quarter. The common stock dividend is payable on July 22, 2022 to shareholders of record as of July 15, 2022. Bank OZK has increased its quarterly cash dividend on its common stock in each of the last forty-eight 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 May 15, 2022 through, but excluding August 15, 2022. The Series A Preferred Stock dividend is payable on August 15, 2022, to the holders of record of the Series A Preferred Stock at the close of business on August 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 $26.56 billion in total assets as of March 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.

Investor Relations Contact:	Jay Staley, (501) 906-7842
Media Contact:	Candace Graham, (501) 320-4165

 

FAQ

What is the dividend amount for Bank OZK in July 2022?

Bank OZK declared a quarterly cash dividend of $0.32 per share for July 2022.

When is the dividend payment date for Bank OZK?

The dividend is payable on July 22, 2022, to shareholders of record as of July 15, 2022.

How long has Bank OZK been increasing its dividends?

Bank OZK has increased its quarterly cash dividend for 48 consecutive quarters.

Is Bank OZK part of any notable dividend index?

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