BancorpSouth (BXS) Declares $0.10 Quarterly Dividend; Approves 7M Common Stock Buyback
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BancorpSouth (NYSE: BXS) declared a quarterly dividend of $0.10 per share, or $0.4 annualized.
The dividend will be payable on April 1, 2016, to stockholders of record on March 15, 2016, with an ex-dividend date of March 11, 2016.
The annual yield on the dividend is 2 percent.
The company's Board of Directors has authorized a new stock repurchase program through December 29, 2017 to purchase up to an aggregate of 7,000,000 shares of BancorpSouth's outstanding common stock, par value $2.50 per share. The previous stock repurchase program, which was scheduled to expire on November 30, 2016, was terminated. Under that program, the Company repurchased 2,882,000 shares.
The shares may be purchased periodically in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws. The actual means and timing of purchase, target number of shares and maximum price or range of prices under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of BancorpSouth's stock, general market and economic conditions, and applicable legal and regulatory requirements.
For a dividend history and other dividend-related data on BancorpSouth (BXS) click here.
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