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

Rhea-AI Summary

South Plains Financial, Inc. (NASDAQ:SPFI) has declared a quarterly cash dividend of $0.07 per share, marking an increase of $0.02 from the previous quarter. This dividend will be payable on May 17, 2021, to shareholders of record as of May 3, 2021. South Plains is the parent company of City Bank, one of the largest independent banks in West Texas, providing a broad range of financial services to businesses and individuals across Texas and New Mexico.

Positive

• Dividend increased by $0.02, reflecting company confidence.
• Quarterly cash dividend of $0.07 per share enhances shareholder income.

Negative

• None.

LUBBOCK, Texas, April 22, 2021 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $0.07 per share of common stock, an increase of $0.02 per share of common stock over the most recent quarterly cash dividend declared in January 2021. The dividend is payable on May 17, 2021 to shareholders of record as of the close of business on May 3, 2021.

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 Eastern 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 new dividend amount for South Plains Financial (SPFI)?

The new dividend amount is $0.07 per share.

When will the dividend for SPFI be paid?

The dividend will be paid on May 17, 2021.

What is the record date for the SPFI dividend?

The record date for the dividend is May 3, 2021.

How much has the SPFI dividend increased?

The SPFI dividend has increased by $0.02 per share.