Independent banking firm Sierra Bancorp (NASDAQ: BSRR ) announced today its third-quarter dividend of $0.07 per share, the same rate it paid last quarter after raising the payout to investors 17%, from $0.06 per share.
Including dividends paid by its subsidiary Bank of the Sierra, prior to the formation of Sierra Bancorp, it has paid regular cash dividends to shareholders every year since 1987, including annual dividends from 1987 through 1998, and quarterly dividends thereafter. Today's dividend announcement marks the 59th consecutive regular quarterly cash dividend for Sierra Bancorp.
The board of directors said the quarterly dividend is payable on Nov. 14 to the holders of record at the close of business on Oct. 31. The regular dividend payment equates to a $0.28-per-share annual dividend, yielding 1.6% based on the closing price today of Sierra Bancorp's stock.