South Plains Financial (SPFI) Announces 8% Dividend Increase

By Tamara Parker • Friday, April 19 10:28 • Permanent Link

South Plains Financial, Inc. (NASDAQ:SPFI) has announced an 8% increase in its quarterly cash dividend. The board of directors has declared a dividend of $0.14 per share of common stock, up from the most recent quarterly cash dividend declared in January 2024.

This increase reflects a commitment to delivering value to shareholders. The dividend is payable on May 13, 2024, to shareholders of record as of the close of business on April 29, 2024.

South Plains Financial, Inc. is the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock, Texas. City Bank operates in various markets across Texas and New Mexico, offering commercial and consumer financial services to small and medium-sized businesses and individuals.

This announcement indicates the company's confidence in its financial position and its ability to generate sustained earnings. It also reflects the management's optimism about the future performance of the organization. Following these announcements, the company's shares moved -0.3%, and are now trading at a price of $25.36. If you want to know more, read the company's complete 8-K report here.

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