South Plains Financial, Inc. Declares Regular Quarterly Cash Dividend

Rhea-AI Summary

South Plains Financial, Inc. (NASDAQ:SPFI) has declared a quarterly cash dividend of $0.05 per share, payable on February 16, 2021, to shareholders of record by February 1, 2021. The dividend amount and future payments are subject to the discretion of the Board of Directors. South Plains, the parent company of City Bank, operates in West Texas and offers a variety of financial services including commercial and retail banking, insurance, and mortgage services.

Positive

• Quarterly cash dividend of $0.05 per share declared.
• Dividend payment enhances shareholder income and confidence.
• Operational presence in multiple Texas markets indicates growth potential.

Negative

• None.

LUBBOCK, Texas, Jan. 21, 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 regular quarterly cash dividend of $0.05 per share of common stock. The dividend is payable on February 16, 2021 to shareholders of record as of the close of business on February 1, 2021. The amount and timing of any future dividend payments to the Company’s shareholders will be subject to the discretion of the Company’s Board of Directors.

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 and Eastern New Mexico markets. 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 and when will it be paid?

The dividend amount is $0.05 per share, payable on February 16, 2021, to shareholders of record as of February 1, 2021.

How often does South Plains Financial pay dividends?

South Plains Financial declares dividends quarterly, but future payments are subject to the Board's discretion.

What is the significance of the dividend for SPFI shareholders?

The dividend provides income to shareholders and reflects the company's confidence in its financial stability.