International Bancshares Corp (IBOC) Raises Quarterly Dividend 5.3% to $0.20; 3.9% Yield; Extends Stock Buyback

International Bancshares Corp (NASDAQ: IBOC) declared a quarterly dividend of $0.20 per share, or $0.8 annualized. This is a 5.3% increase from the prior dividend of $0.19.

The dividend will be payable on April 20, 2012, to stockholders of record on April 2, 2012, with an ex-dividend date of March 29, 2012. The annual yield on the dividend is 3.9 percent.

IBC also 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. On March 22, 2012, the 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.

For a dividend history and other dividend-related data on International Bancshares Corp (IBOC) click here.

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