Simmons First National Corporation Declares $0.20 Per Share Dividend

Rhea-AI Summary

Simmons First National Corporation (NASDAQ: SFNC) has declared a quarterly cash dividend of $0.20 per share on its Class A common stock, marking the 114th consecutive year of dividend payments. This dividend, payable on April 3, 2023, is an increase of 5% from the previous year. The annualized cash dividend rate of $0.80 reflects a ten-year compound annual growth rate of 7%. Simmons is among only 24 U.S. companies that have maintained dividend payments for over 100 years, and it has been recognized as a 'Dividend Contender' for increasing dividends for 12 consecutive years.

Positive

• Quarterly dividend increased by 5% to $0.20 per share.
• 114 consecutive years of cash dividends underscores company stability.
• Annualized cash dividend rate of $0.80 reflects a 10-year CAGR of 7%.

Negative

• None.

2023 marks the 114^th consecutive year that Simmons has paid cash dividends to shareholders

PINE BLUFF, Ark., Jan. 23, 2023 /PRNewswire/ -- Simmons First National Corporation (NASDAQ: SFNC) (Simmons) announced today that its board of directors has declared a quarterly cash dividend on Simmons' Class A common stock of $0.20 per share, which is payable on April 3, 2023, to shareholders of record as of March 15, 2023. The cash dividend rate represents an increase of $0.01 per share, or 5 percent, from the dividend paid for the same time period last year.

The indicated annualized cash dividend rate of $0.80 for 2023 represents a ten-year compound annual growth rate of 7 percent and marks the 114^th consecutive year that Simmons has paid cash dividends. According to research by Dividend Power, Simmons is one of only 24 U.S. publicly traded companies that have paid dividends for 100+ uninterrupted years. This marks the 12^th consecutive year that Simmons has increased its dividend, earning it Dividend Power's designation as a "Dividend Contender," a title exclusively for companies that have increased their dividend for 10 to 24 consecutive years. As of December 16, 2022, Dividend Power research noted that Simmons is one of only 347 companies out of nearly 6,000 companies listed on the New York Stock Exchange (NYSE) and NASDAQ in 2022 to achieve this distinction.

Simmons First National Corporation
Simmons First National Corporation (NASDAQ: SFNC) is a Mid-South based financial holding company that has paid cash dividends to its shareholders for 114 consecutive years. Its principal subsidiary, Simmons Bank, operates 230 branches in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas. Founded in 1903, Simmons Bank offers comprehensive financial solutions delivered with a client-centric approach. In 2022, Simmons Bank was named to Forbes list of "America's Best Banks" for the second consecutive year and was named to Forbes list of "World's Best Banks" for the third consecutive year. Additional information about Simmons Bank can be found on our website at simmonsbank.com, by following @Simmons_Bank on Twitter or by visiting our newsroom.

Forward-Looking Statements
This press release contains statements related to dividends that are not based on historical facts and constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. By nature, such forward-looking statements are based on various assumptions and involve inherent risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Among other risks, there can be no guarantee that the board of directors of Simmons will approve a quarterly dividend in future quarters, and the timing, payment, and amount of future dividends (if any) may differ significantly from past dividends. Additional information on other risk factors that could affect the forward-looking statements is contained in Simmons' Form 10-K for the year ended December 31, 2021, which has been filed with, and is available from, the U.S. Securities and Exchange Commission.  Any forward-looking statement speaks only as of the date of this press release, and Simmons undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this press release.

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SOURCE Simmons First National Corporation

FAQ

What is the dividend amount for SFNC announced in January 2023?

The announced dividend amount for SFNC is $0.20 per share.

When will SFNC's dividend be paid?

The dividend will be paid on April 3, 2023.

What is the history of dividend payments for SFNC?

SFNC has paid cash dividends for 114 consecutive years.

How much has SFNC increased its dividend from last year?

SFNC has increased its dividend by 5% compared to the same period last year.

What is SFNC's annualized cash dividend rate for 2023?

The annualized cash dividend rate for 2023 is $0.80.