In an attempt to enhance shareholder value,
Cullen/Frost Bankers, Inc.
) board of directors announced a 4% increase in its quarterly
cash dividend on common stock. The new dividend of 50 cents will
be paid on Jun 14 to shareholders of record as of May 31.
Additionally, the board declared a quarterly cash dividend of
44.79167 cents per share on its Non-cumulative Perpetual Series A
Preferred Stock. This dividend will be paid on Jun 15 to
shareholders of record as of May 31.
The latest boost in the company's dividend reflects its
commitment to return value to shareholders through its strong
cash generation capabilities. Cullen/Frost's current capital
position may allow it to further enhance shareholder value.
Moreover, the company has healthy capital levels and
liquidity. Tier 1 Risk-Based Capital Ratio and Total Risk-Based
Capital Ratio as of Mar 31, 2013 stood at 14.23% and 15.44%,
AMER NATL BNKSH (AMNB): Free Stock Analysis
BNC BANCORP (BNCN): Free Stock Analysis
CULLEN FROST BK (CFR): Free Stock Analysis
REGIONS FINL CP (RF): Free Stock Analysis
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Cullen/Frost has also been a regular dividend payer over the
years. While many other banks suspended dividends during the
economic crisis in 2008, Cullen/Frost not only continued to pay
dividend, but increased the amount. Notably, over the past 18
years, the company has been consistently increasing its dividend.
Among other banks,
Regions Financial Corp
) board of directors announced a threefold hike in its quarterly
cash dividend on common stock, last week. The new dividend of 3
cents will be paid on Jul 1 to shareholders of record as of Jun
Cullen/Frost currently carries a Zacks Rank #3 (Hold). Other
better performing stocks include
American National Bankshares Inc.
). Both these carry a Zacks Rank #1 (Strong Buy).