CVB Financial hikes dividend by 5.3%
On September 22, 2022, CVB Financial Corp (CVBF) announced a 5.3% dividend hike to $0.20 quarterly per share. This is the second hike announced by CVBF in 2022 and comes after a 5.6 percent dividend increase to $0.19 quarterly per share.
This represents the company’s 132nd consecutive quarterly cash dividend. The next quarterly CVBF dividend will be payable on or about October 20, 2022 to shareholders of record as of October 5, 2022. A new annual dividend rate of 80 cents yields 3.0% at a stock price of $26.17.
“Our Company’s strong levels of capital and liquidity, combined with our remarkable history of 181 consecutive quarters of profitability, has allowed us to pay cash dividends to our shareholders for 132 consecutive quarters,” said David A. Brager, President and Chief Executive Officer. “We are pleased to be increasing our quarterly dividend by 5%. We believe this higher dividend, combined with our common stock repurchase plan, demonstrate our continuing commitment to provide strong returns to our shareholders.”
CVB Financial Corp. is the holding company for Citizens Business Bank. CVBF is one of the 10 largest bank holding companies headquartered in California with over $11 billion in total assets. Citizens Business Bank is consistently recognized as one of the top performing banks in the nation and offers a wide array of banking, lending and investing services through 62 banking centers and 3 trust office locations serving the Inland Empire, Los Angeles County, Orange County, San Diego County, Ventura County, Santa Barbara County, and the Central Valley area of California.
