HOUSTON - Stellar Bancorp, Inc. (NYSE:STEL), a bank holding company, announced Thursday that its board has declared a quarterly cash dividend of $0.13 per common share. Shareholders on record by March 18, 2024, will receive the payment on March 29, 2024.
The Texas-based company, which operates Stellar Bank, serves small to medium-sized businesses and individual customers in Houston, Dallas, Beaumont, and nearby areas. The bank offers a variety of commercial banking services.
This dividend declaration follows the company's established pattern of returning value to its shareholders and reflects its financial position and commitment to its dividend policy. Dividends are typically a sign of a company's financial health and its board's confidence in future earnings.
Stellar Bancorp's announcement is part of a regular practice by publicly traded companies to provide updates on dividend distributions, which are subject to board approval each quarter.
It is important to note that the information provided is based on a press release statement from Stellar Bancorp, Inc. The forward-looking statements in the press release are subject to various risks, uncertainties, and other factors that could cause actual results to differ materially from future results or outcomes anticipated in such statements.
The dividend announcement by Stellar Bancorp, Inc. is a factual event without speculation on the company's future performance or the broader market implications. As with all investments, dividends are not guaranteed and can fluctuate with the company's performance and strategic decisions.
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