South Plains Financial, Inc. Announces 9% Increase to Quarterly Cash Dividend

Rhea-AI Summary

South Plains Financial, Inc. (NASDAQ:SPFI), the parent company of City Bank, announced a quarterly cash dividend of $0.12 per share, a 9% increase from April 2022. The dividend will be payable on August 15, 2022, to shareholders of record by August 1, 2022. This decision reflects the company's commitment to returning value to shareholders amidst its operational growth in key Texas and New Mexico markets.

Positive

• Dividend increased by 9%, enhancing shareholder returns.
• Dividend payment scheduled for August 15, 2022.

Negative

• None.

LUBBOCK, Texas, July 21, 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 $0.12 per share of common stock, a 9% increase from the most recent quarterly cash dividend declared in April 2022. The dividend is payable on August 15, 2022 to shareholders of record as of the close of business on August 1, 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 new dividend amount for SPFI?

The new dividend amount for SPFI is $0.12 per share.

When will the dividend for SPFI be paid?

The dividend for SPFI will be paid on August 15, 2022.

Who is eligible to receive the dividend for SPFI?

Shareholders of record as of the close of business on August 1, 2022, are eligible to receive the dividend.

How much has the SPFI dividend increased?

The SPFI dividend has increased by 9% compared to the previous quarterly dividend.