Bank OZK (OZK) will raise its quarterly dividend by another 1.8 percent to 29 cents per share in Q4 of 2021. This is the 4th dividend hike in row by OZK for a total increase of 5.5 percent in 2021.
The next OZK dividend is payable October 22, 2021 to shareholders of record as of October 15, 2021. A new annualized dividend rate of $1.16 per share yields 2.6% to Bank OZK shareholders at a stock price of $43.88.
Last year Bank OZK also announced four dividend hikes for a total increase of exactly 10.0 percent. This marked 11 years of double digit dividend growth for the company with an average dividend hike of no less than 22.0 percent during that course. Bank OZK now pays its shareholders an estimated $149 million in dividends annually if we include this new dividend hike just announced.
Bank OZK, formerly Bank of the Ozarks, Inc. is a bank holding company. The Company owns a state-chartered subsidiary bank that conducts banking operations in Arkansas, Georgia, North Carolina, Texas, Florida, Alabama, South Carolina, New York and California. The company's deposit services, including checking, savings, money market, time deposit and individual retirement accounts and loan services, including real estate, consumer, commercial, industrial and agricultural loans and leasing services. OZK also provides services such as mortgage lending, lock box services and financial planning and operates ATMs. The company has paid a dividend to shareholders every year since 1998.