Bank OZK (OZK) will raise its quarterly dividend by 3.5 to 30 cents per share in Q1 of 2022. Last year OZK announced four dividend hikes.
The common stock dividend is payable on January 21, 2022 to shareholders of record as of January 14, 2022. Bank OZK has increased its quarterly cash dividend on its common stock in each of the last forty-six quarters. A new annualized dividend rate of $1.20 per share yields 2.5% to Bank OZK shareholders at a stock price of $48.60.
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.