UMB Financial Board Announces Dividend; 2M Share Common Stock Repurchase Authorization
The Board of Directors of UMB Financial Corporation (NASDAQ: UMBF), a financial services holding company, declared during the company's quarterly board meeting a $0.205 quarterly cash dividend, payable on July 2, 2012 to shareholders of record at the close of business on June 8, 2012.
The Board of Directors also authorized the repurchase of up to 2,000,000 shares of the company's common stock during the next 12 months. Shares purchased under the program will be used for general corporate purposes and may be available for re-issuance in connection with the company's stock plans and dividend reinvestment plan. The company may repurchase the shares from time to time in open market or privately negotiated transactions at the company's discretion, and on such terms, including, without limitation, quantity, timing and price, as management may determine to be in the company's best interest.
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