On October 2, 2023, Bank OZK (OZK) announced the 4th dividend hike for 2023 with a 2.8% increase of the quarterly payment to $0.37 per share. This brings the total dividend hike in 2023 to 12.1% for OZK. The dividend yield is 4.1% at a stock price of $35.79. This July a 2.9% dividend hike was announced by OZK, a future Aristocrat with now 25 consecutive years of dividend growth.
The common stock dividend is payable on October 20, 2023 to shareholders of record as of October 13, 2023. Bank OZK has increased its quarterly cash dividend on its common stock in each of the last fifty-three quarters.
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.