BancFirst hikes dividend by 11.1%

BancFirst Corporation (BANF) on August 26, 2022 announced that it will raise its quarterly dividend by another 11.1 percent to 40 cents per share. This follows a dividend hike of 5.9 percent to 36 cents per share in 2021 and will mark the 29th consecutive year of annual dividend increases by the financial services company.

The next BANF dividend is payable October 17, 2022, to shareholders of record on September 30, 2022. A new annualized dividend rate of $1.60 per share yields 1.5% at a stock price of $110. The next ex-dividend date for BancFirst Corporation is September 29, 2022. BANF will now pay shareholders an estimated $52 million in dividends annually.

BancFirst Corporation is an Oklahoma based financial services holding company. The company's principal subsidiary bank, BancFirst, is Oklahoma's largest state-chartered bank.  It has four business units, which include metropolitan banks, community banks, other financial services, and executive, operations and support. BANF also owns 100% of BancFirst Insurance Services, Inc., an independent insurance agency, and 100% of Council Oak Partners LLC, an Oklahoma limited liability company engaged in investing activities.