Business
Westamerica Bancorporation Declares Quarterly Cash Dividend and Announces Stock Repurchase Plan
SAN RAFAEL, Calif., July 28, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of Westamerica Bancorporation (NASDAQ: WABC) today declared a quarterly cash
About this update from Westamerica Bancorporation
[{"type":"text","content":"SAN RAFAEL, Calif., July 28, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of Westamerica Bancorporation (NASDAQ: WABC) today declared a quarterly cash dividend of $0.42 per share on common stock outstanding to shareholders of record at the close of business August 8, 2022. The dividend is payable August 19, 2022. Westamerica Bancorporation’s Board of Directors also approved a plan to repurchase, as conditions warrant, up to 1,750,000 shares of the Company’s common stock on the open market or in privately negotiated transactions prior to September 1, 2023. The repurchase plan represents approximately 6.5 percent of the Company’s common stock outstanding as of June 30, 2022. Chairman, President and CEO David Payne stated, “This quarterly dividend recognizes Westamerica’s reliable earnings stream, financial strength and conservative risk profile.” On July 21, 2022, Westamerica reported $25.3 million in net income for the three months ended June 30, 2022, or $0.94 diluted earnings per common share. Westamerica Bancorporation, through its wholly owned subsidiary, Westamerica Bank, operates banking and trust offices throughout Northern and Central California. Westamerica Bancorporation Web Address: www.westamerica.com For additional information contact: Westamerica Bancorporation 1108 Fifth Avenue, San Rafael, CA 94901 Robert A. Thorson – SVP & Treasurer 707-863-6840 [email protected] FORWARD-LOOKING INFORMATION: The following appears in accordance with the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words \"believe,\" \"expect,\" \"anticipate,\" \"intend,\" \"plan,\" \"estimate,\" or words of similar meaning, or future or conditional verbs such as \"will,\" \"would,\" \"should,\" \"could,\" or \"may.\" Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors — many of which are beyond the Company's control — could cause actual conditions, events or results to di...