Home BancShares, Inc. Announces a 30% Increase in First Quarter Cash Dividend
CONWAY, Ark., Jan. 23, 2013 (GLOBE NEWSWIRE) -- Home BancShares, Inc.'s (Nasdaq: HOMB), parent company of Centennial Bank, Board of Directors declared a regular $0.13 per share quarterly cash dividend payable March 6, 2013, to shareholders of record February 13, 2013. This cash dividend represents a $0.03 per share, or 30%, increase over the $0.10 cash dividend paid during the first quarter of 2012 and is equal to both the regular and the special cash dividend paid during the fourth quarter of 2012.
During the fourth quarter of 2012, the Board of Directors paid a second dividend for the quarter on December 31, 2012. This dividend has been declared by the Board of Directors as a special one-time cash dividend versus a cash dividend in lieu of the regular quarterly cash dividend for the first quarter of 2013. This special fourth quarter dividend was paid out of current earnings and profits in accordance with IRC Section 316 and therefore, will be entirely classified as a qualifying dividend for income tax purposes pursuant to Section 1(h).
Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Our wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has locations in central Arkansas, north central Arkansas, southern Arkansas, the Florida Keys, southwestern Florida, central Florida, the Florida Panhandle and south Alabama. The Company's common stock is traded through the NASDAQ Global Select Market under the symbol "HOMB."
This release contains forward-looking statements regarding the Company's plans, expectations, goals and outlook for the future. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risk and uncertainties. Various factors, including, but not limited to, economic conditions, credit quality, interest rates, loan demand, the ability to successfully integrate new acquisitions and changes in the assumptions used in making the forward-looking statements, could cause actual results to differ materially from those contemplated by the forward-looking statements. Additional information on factors that might affect Home BancShares, Inc.'s financial results are included in its Annual Report on Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission.