Alabama National BanCorporation Increases Quarterly Cash Dividend

Strategic Insights -

Alabama National BanCorporation has announced a 20% increase in the company's quarterly cash dividend, with a new rate of $0.18 per share, representing an annual dividend rate of $0.72. This follows four consecutive annual dividend increases since 1995. The dividend is payable to stockholders of record at the close of business on March 15, 1999, with a payment date of April 3, 1999. The company, valued at $1.7 billion, operates through ten bank subsidiaries in Alabama, Florida, and Georgia, with a focus on providing personalized service and local decision-making to individuals and small businesses.

Key Takeaways:

  • The Board of Directors of Alabama National BanCorporation announced a 20% increase in the company's quarterly cash dividend from $0.15 to $0.18 per share, effective April 3, 1999.
  • The annual dividend rate for the new dividend is $0.72, representing the fourth consecutive annual dividend increase since the company's initial quarterly dividend in 1995.
  • The dividend is payable to stockholders of record at the close of business on March 15, 1999.
  • National Bank of Commerce (NBC) serves as the lead bank subsidiary for the holding company.
  • The bank operates 43 locations through ten bank subsidiaries, with a total value of $1.7 billion.
  • Key subsidiaries include First American Bank, First Citizens Bank, N.A., Bank of Dadeville, and Alabama Exchange Bank.
  • Brokerage services are provided through NBC's wholly owned subsidiary, NBC Securities, Inc.

Statistics:

  • The new quarterly cash dividend rate is $0.18 per share.
  • The annual dividend rate for the new dividend is $0.72.
  • The dividend payment date is April 3, 1999.

Sources:

  • BUSINESS WIRE, Alabama National BanCorporation Announces 20% Increase in Quarterly Cash Dividend
  • Business Wire, Alabama National BanCorporation Announces 20% Increase in Quarterly Cash Dividend.