Multibank holding company International Bancshares (NASDAQ:IBOC) announced today its semiannual dividend of $0.23 per share, a 15% increase in the payout made to investors last time of $0.20 per share.
The board of directors said the quarterly dividend is payable on October 15 to holders of record at the close of business on September 30.
Commenting on the dividend increase, International Bancshares President and CEO Dennis E. Nixon said it "was made possible because of the continuing favorable performance of IBC during these challenging economic times."
The regular dividend payment equates to a $0.46-per-share annual dividend, yielding 2.1% based on the closing price today of International Bancshares' stock.
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