Westamerica Bancorporation declares a quarterly dividend of $0.44 per share, payable February 14, 2025.
Quiver AI Summary
Westamerica Bancorporation's Board of Directors has announced a quarterly cash dividend of $0.44 per share for shareholders of record as of February 3, 2025, with payment scheduled for February 14, 2025. Chairman, President, and CEO David Payne highlighted the dividend as a reflection of the company's stable earnings, financial strength, and conservative risk management. The announcement follows Westamerica's report of a net income of $31.7 million, or $1.19 diluted earnings per share, for the quarter ending December 31, 2024. Westamerica operates banking and trust offices across Northern and Central California. The press release also includes a disclaimer about forward-looking statements regarding the company’s future operations and the inherent risks and uncertainties associated with such projections.
Potential Positives
- Westamerica Bancorporation declared a quarterly cash dividend of $0.44 per share, highlighting its commitment to returning value to shareholders.
- The company reported a strong net income of $31.7 million for the last quarter, indicating solid financial performance and a reliable earnings stream.
- The dividend declaration reflects the company's financial strength and conservative risk profile, as noted by CEO David Payne.
Potential Negatives
- Despite declaring a quarterly dividend, the company's forward-looking statements highlight potential risks and uncertainties that could negatively impact future earnings, such as credit, interest rate, operational, liquidity, and market risks.
- The reliance on forward-looking statements indicates a lack of assurance regarding the stability of the company's earnings and financial strength in the upcoming quarters.
FAQ
What is the declared dividend amount by Westamerica Bancorporation?
Westamerica Bancorporation declared a quarterly cash dividend of $0.44 per share on common stock outstanding.
When will the dividend be paid to shareholders?
The dividend is payable on February 14, 2025, to shareholders of record at the close of business on February 3, 2025.
What was Westamerica's net income for the last quarter?
For the three months ended December 31, 2024, Westamerica reported a net income of $31.7 million.
Who is the CEO of Westamerica Bancorporation?
The Chairman, President, and CEO of Westamerica Bancorporation is David Payne.
Where is Westamerica Bancorporation located?
Westamerica Bancorporation is located at 1108 Fifth Avenue, San Rafael, CA 94901.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$WABC Hedge Fund Activity
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Full Release
SAN RAFAEL, Calif., Jan. 23, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Westamerica Bancorporation (NASDAQ: WABC) today declared a quarterly cash dividend of $0.44 per share on common stock outstanding to shareholders of record at the close of business February 3, 2025 . The dividend is payable February 14, 2025.
Chairman, President and CEO David Payne stated, “This quarterly dividend recognizes Westamerica’s reliable earnings stream, financial strength and conservative risk profile.”
On January 16, 2025, Westamerica reported $31.7 million in net income for the three months ended December 31, 2024, or $1.19 diluted earnings per common share.
Westamerica Bancorporation, through its wholly owned subsidiary, Westamerica Bank, operates banking and trust offices throughout Northern and Central California.
Westamerica Bancorporation Web Address: www.westamerica.com
For additional information contact:
Westamerica Bancorporation
1108 Fifth Avenue, San Rafael, CA 94901
Robert A. Thorson – SVP & Treasurer
707-863-6840
[email protected]
FORWARD-LOOKING INFORMATION:
The following appears in accordance with the Private Securities Litigation Reform Act of 1995:
This press release may contain forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may."
Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors — many of which are beyond the Company's control — could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. The Company's most recent reports filed with the Securities and Exchange Commission, including the annual report for the year ended December 31, 2023 filed on Form 10-K and quarterly report for the quarter ended September 30, 2024 filed on Form 10-Q, describe some of these factors, including certain credit, interest rate, operational, liquidity and market risks associated with the Company's business and operations. Other factors described in these reports include changes in business and economic conditions, competition, fiscal and monetary policies, disintermediation, cyber security risks, legislation including the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Sarbanes-Oxley Act of 2002 and the Gramm-Leach-Bliley Act of 1999, and mergers and acquisitions.
Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.