Form 8-K CULLEN/FROST BANKERS, For: Apr 30

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April 30, 2015 5:08 PM EDT



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K


CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): April 30, 2015



CULLEN/FROST BANKERS, INC.
(Exact name of issuer as specified in its charter)




Texas
001-13221
74-1751768
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)


100 West Houston Street, San Antonio, Texas
78205
(Address of principal executive offices)
(Zip Code)


(210) 220-4011
(Registrant's telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



Item 8.01    Other Events

Attached as Exhibit 99.1 and incorporated into this item by reference is a press release issued by the Registrant on April 30, 2015 regarding its declaration of quarterly cash dividends on its common stock and its preferred stock and the implementation of a stock repurchase program.


Item 9.01    Financial Statements and Exhibits

(d)   Exhibits:

99.1
Press Release dated April 30, 2015







SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CULLEN/FROST BANKERS, INC.



By:    /s/ Jerry Salinas    
Jerry Salinas
Group Executive Vice President
and Chief Financial Officer


Dated:    April 30, 2015





EXHIBIT INDEX





Exhibit Number
 
Description
 
 
 
   99.1
 
Press Release dated April 30, 2015








Exhibit 99.1



Greg Parker
Investor Relations
210.220.5632
or
Renee Sabel
Media Relations
210.220.5416


FOR IMMEDIATE RELEASE    
April 30, 2015


CULLEN/FROST BANKERS INCREASES
QUARTERLY COMMON CASH DIVIDEND BY TWO CENTS,
ALSO ANNOUNCES STOCK REPURCHASE PLAN

Declares Quarterly Cash Dividend for Preferred Stock


SAN ANTONIO The Cullen/Frost Bankers, Inc. board of directors today declared a second quarter cash dividend of $.53 per common share, a two-cent increase from the previous dividend of $.51 per common share. The dividend is payable June 15, 2015 to shareholders of record on May 29 of this year.

“We are pleased to announce a two-cent per share increase in our cash dividend and appreciate the confidence and support of our shareholders,” said Cullen/Frost Chairman and CEO Dick Evans. “This marks the 22nd consecutive year that we have increased the dividend.”

Cullen/Frost also announced today that the Corporation's board of directors has authorized a $100.0 million stock repurchase program, allowing the company to repurchase shares of its common stock. Under the program, shares may be repurchased over a two-year period from time to time at various prices in the open market or through private transactions.


1.


The Cullen/Frost Bankers, Inc. board of directors also declared a cash dividend of $.3359375 per share of the Noncumulative Perpetual Preferred Stock, Series A, which is traded on the NYSE under the symbol “CFR PrA.” The Series A Preferred Stock dividend is payable on June 15, 2015, to shareholders of record on May 29 of this year.

Cullen/Frost Bankers, Inc. (NYSE: CFR) is a financial holding company, headquartered in San Antonio, with $28.2 billion in assets at March 31, 2015. Among the top 50 largest U.S. banks and one of 24 banks included in the KBW Bank Index, Frost provides a wide range of banking, investments and insurance services to businesses and individuals across Texas in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Permian Basin, Rio Grande Valley and San Antonio regions. Founded in 1868, Frost has helped clients with their financial needs during three centuries. Additional information is available at frostbank.com.




2.

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