Red River Bancshares, Inc. Announces Increased Quarterly Cash Dividend

Rhea-AI Summary

Red River Bancshares, Inc. (Nasdaq: RRBI) announced a cash dividend of $0.08 per share, representing a 14% increase from the previous quarter's dividend of $0.07. This decision was confirmed by the board of directors on February 23, 2023, with the dividend payable on March 23, 2023, to shareholders of record by March 13, 2023. CEO Blake Chatelain expressed confidence in the company’s performance and outlook, stating the increase reflects a strong earnings confidence.

Positive

• Increased cash dividend to $0.08, a 14% rise from the prior $0.07.
• Dividend increase reflects confidence in earnings and company outlook.

Negative

• None.

ALEXANDRIA, La., Feb. 23, 2023 (GLOBE NEWSWIRE) -- Red River Bancshares, Inc. (Nasdaq: RRBI) (the “Company”) announced today that on February 23, 2023, its board of directors declared a cash dividend of $0.08 per share of common stock, representing a 1 cent, or 14%, increase from the quarterly cash dividend of $0.07 per share declared on November 17, 2022. The cash dividend is payable on March 23, 2023, to shareholders of record as of the close of business on March 13, 2023. Blake Chatelain, President and Chief Executive Officer of the Company, stated, “We are pleased to increase our dividend to eight cents this quarter. Our dividend increase reflects our confidence in the Company’s earnings and favorable outlook.”

About Red River Bancshares, Inc.
The Company is the bank holding company for Red River Bank, a Louisiana state-chartered bank established in 1999 that provides a fully integrated suite of banking products and services tailored to the needs of commercial and retail customers. Red River Bank operates from a network of 28 banking centers throughout Louisiana and one combined loan and deposit production office in New Orleans, Louisiana. Banking centers are located in the following Louisiana markets: Central, which includes the Alexandria metropolitan statistical area (“MSA”); Northwest, which includes the Shreveport-Bossier City MSA; Capital, which includes the Baton Rouge MSA; Southwest, which includes the Lake Charles MSA; the Northshore, which includes Covington; Acadiana, which includes the Lafayette MSA; and New Orleans.

Contact:
Julia E. Callis
Senior Vice President, General Counsel & Corporate Secretary
318-561-4042
julia.callis@redriverbank.net

FAQ

What is the current dividend amount for Red River Bancshares (RRBI)?

The current dividend amount is $0.08 per share.

When is the dividend payable for RRBI?

The dividend is payable on March 23, 2023.

What was the previous dividend amount for RRBI before the increase?

The previous dividend amount was $0.07 per share.

What date must shareholders be on record to receive the dividend?

Shareholders must be on record by March 13, 2023.

What does the dividend increase indicate about RRBI's performance?

The dividend increase indicates confidence in the company's earnings and favorable outlook.