logo
Share SHARE
FONT-SIZE Plus   Neg

International Bancshares Hikes Dividend; To Repurchase Up To $40 Mln Of Shares

International Bancshares Corp.(IBOC: Quote) announced that its Board approved the declaration of a $0.20 per share cash dividend for shareholders of record as of the close of business on April 2, 2012, payable on April 20, 2012.

"This cash dividend, which reflects a 5.25% increase of 1 cent per share over IBC's most recent cash dividend, was made possible because of IBC's continuing strong performance during these challenging economic times," said Dennis Nixon, Chairman and President of IBC.

It is the inclination of the Board to continue to declare semiannual cash dividends.

IBC announced the extension of its stock repurchase program. On April 9, 2009, March 9, 2010, and March 10, 2011 the Board authorized the repurchase of up to $40 million of common stock within the next twelve months.

The company said that its board again authorized the repurchase of up to $40 million of its common stock during the twelve month period commencing on April 9, 2012, which repurchase cap the Board is inclined to increase over time.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Online retail giant Amazon.com Inc. (AMZN) is reportedly in talks to buy luxury online fashion retailer Net-a-Porter. The news of acquisition was first reported by Women's Wear Daily, which said the deal would be completed for about 2 billion euros, indicating the biggest acquisition yet by Amazon.... Tim Cook, the CEO of tech giant Apple Inc., in an interview said he intends to give away all his wealth to charity. Cook, in an interview to Fortune, said he plans to donate all his wealth to philanthropic projects after paying for his 10-year old nephew's college education. According to Fortune,... Is it a 'personal life crisis' that led the Germanwings' co-pilot Andreas Lubitz to deliberately lowering the plane carrying 149 people to French Alps mountain? Police is investigating to find evidences to prove this suggestion.
comments powered by Disqus
Follow RTT