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

Rhea-AI Summary

Bank OZK (Nasdaq: OZK) has announced its 50th consecutive quarterly cash dividend, declaring a dividend of $0.34 per share, marking a 3.03% increase from the previous quarter. This dividend is due to be paid on January 24, 2023, to shareholders of record as of January 17, 2023. Additionally, the Board declared a dividend of $0.28906 per share on its 4.625% Series A Preferred Stock (Nasdaq: OZKAP) for the period ending February 15, 2023.

Bank OZK has maintained its spot in the S&P High Yield Dividend Aristocrats® index since January 2018, demonstrating a consistent increase in dividends.

Positive

• 50 consecutive quarters of dividend increases.
• Common stock dividend raised to $0.34 per share.
• Inclusion in the S&P High Yield Dividend Aristocrats index.

Negative

• None.

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

LITTLE ROCK, Ark., Jan. 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 $0.34 per share, up $0.01, or 3.03% from the prior quarter. The common stock dividend is payable on January 24, 2023 to shareholders of record as of January 17, 2023. Bank OZK has increased its quarterly cash dividend on its common stock in each of the last fifty 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 November 15, 2022 through, but excluding February 15, 2023. The Series A Preferred Stock dividend is payable on February 15, 2023, to the holders of record of the Series A Preferred Stock at the close of business on February 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 $26.23 billion in total assets as of September 30, 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:	Michelle Rossow (501) 906-3922

FAQ

What is the latest dividend declared by Bank OZK?

Bank OZK declared a quarterly cash dividend of $0.34 per share.

When will the dividend for Bank OZK be paid?

The dividend will be paid on January 24, 2023.

What is the dividend amount for Bank OZK's Series A Preferred Stock?

The dividend for the Series A Preferred Stock is $0.28906 per share.

How often does Bank OZK increase its dividends?

Bank OZK has increased its dividends for 50 consecutive quarters.

Is Bank OZK included in any dividend indexes?

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