South Plains Financial, Inc. Announces $0.02 Increase to Quarterly Cash Dividend

Rhea-AI Summary

South Plains Financial (NASDAQ:SPFI) announced a quarterly cash dividend of $0.11 per share, reflecting an increase of $0.02 over the previous quarter. The dividend is payable on February 14, 2022, to shareholders on record as of January 31, 2022. South Plains is the parent company of City Bank, one of the largest independent banks in West Texas, providing a multitude of commercial and consumer banking services across Texas and parts of New Mexico. This dividend increase signals confidence in the company's financial health and commitment to returning value to shareholders.

Positive

• Quarterly cash dividend increased from $0.09 to $0.11 per share.
• Dividend payable date set for February 14, 2022.
• Demonstrates company confidence and commitment to shareholders.

Negative

• None.

LUBBOCK, Texas, Jan. 20, 2022 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains”), the parent company of City Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $0.11 per share of common stock, an increase of $0.02 per share of common stock over the most recent quarterly cash dividend declared in October 2021. The dividend is payable on February 14, 2022 to shareholders of record as of the close of business on January 31, 2022.

About South Plains Financial, Inc.

South Plains is the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks in West Texas and has additional banking operations in the Dallas, El Paso, Greater Houston, the Permian Basin, and College Station, Texas markets, and the Ruidoso, New Mexico market. South Plains provides a wide range of commercial and consumer financial services to small and medium-sized businesses and individuals in its market areas. Its principal business activities include commercial and retail banking, along with insurance, investment, trust and mortgage services. Please visit https://www.spfi.bank for more information.

Contact:	Mikella Newsom, Chief Risk Officer and Secretary
	investors@city.bank
	(866) 771-3347

Source: South Plains Financial, Inc.

FAQ

What is the dividend amount for SPFI?

The dividend amount for South Plains Financial (SPFI) is $0.11 per share.

When will the SPFI dividend be paid?

The dividend for SPFI will be paid on February 14, 2022.

What is the record date for the SPFI dividend?

The record date for the SPFI dividend is January 31, 2022.

How much has the SPFI dividend increased?

The SPFI dividend has increased by $0.02 from the previous quarter.

Is the dividend from SPFI sustainable?

The increase in the SPFI dividend indicates confidence in the company's financial stability, but sustainability can depend on future earnings and market conditions.