Stellar Bancorp declares dividend and share repurchase program

Stellar Bancorp, Inc. has declared a quarterly cash dividend of $0.13 per share of common stock, payable on June 28, 2024, to shareholders of record as of June 14, 2024.

Additionally, the company's board of directors has authorized a new share repurchase program, allowing for the repurchase of up to $60 million of the company's common stock through May 31, 2025. This follows an existing share repurchase program, which allowed for the repurchase of up to $60 million of the company's common stock through May 31, 2024.

Stellar Bancorp, Inc. is a bank holding company headquartered in Houston, Texas, with its principal banking subsidiary, Stellar Bank, providing commercial banking services primarily to small* to medium-sized businesses and individual customers across the Houston, Dallas, Beaumont, and surrounding communities in Texas. The market has reacted to these announcements by moving the company's shares 1.2% to a price of $22.9. For more information, read the company's full 8-K submission here.

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