logo
Share SHARE
FONT-SIZE Plus   Neg

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

International Bancshares Corp.(IBOC) 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
Morgan Stanley (MS) reported fourth-quarter net income applicable to company of $1.7 billion, or $0.81 per share compared with income of $908 million, or $0.39 per share, for the same period a year ago. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share... A federal judge this week ruled in favor of media company Viacom, stating that the fictional restaurant "The Krusty Krab" in the animated television series "SpongeBob SquarePants" is worthy of trademark protection. SpongeBob is aired by Viacom's Nickelodeon cable network. British American Tobacco plc Tuesday said it has agreed to buy the remaining 57.8 percent of Reynolds American Inc. it does not already own in $49.4 billion cash and stock deal. The companies said the deal would create a stronger, truly global tobacco and Next Generation Products company. The British tobacco major currently owns 42.2 percent of Reynolds.
comments powered by Disqus
Follow RTT