Sierra Bancorp Increases Quarterly Cash Dividend by 4%
Sierra Bancorp Increases Quarterly Cash Dividend by 4%
Sierra Bancorp (NASDAQ: BSRR), the parent company of Bank of the Sierra, recently declared a regular quarterly cash dividend of $0.25 per share. This increase of $0.01 per share, or 4%, from the previous quarter highlights the company's ongoing commitment to returning value to its shareholders.
Financial Performance Reflection
The decision to raise the dividend came after the Board of Directors reviewed the company's robust financial performance and capital position. This dividend announcement is particularly noteworthy as it marks the Company’s 104th consecutive quarterly cash dividend, emphasizing a long history of consistent shareholder returns.
A Rich History of Dividends
Since even before the formal establishment of Sierra Bancorp, the company has been dedicated to rewarding its shareholders, having provided dividends annually since 1987. Starting with annual dividends, the frequency was increased to quarterly dividends in the subsequent years, reflecting the stability and growth of the organization.
About Sierra Bancorp and Bank of the Sierra
Sierra Bancorp is known for its strong community presence through its subsidiary, Bank of the Sierra. Operated for nearly fifty years, the bank stands as one of the largest independent banking institutions in the South San Joaquin Valley. With a focus on retail and commercial banking services, it operates full-service branches across multiple counties, including Tulare, Kern, Kings, Fresno, and beyond.
Community-Centric Banking Services
Bank of the Sierra prides itself on being a community-centric regional bank. They offer a wide variety of banking services that cater to both individual and business needs. One of their unique features is an agricultural credit center located in Templeton, California, providing specialized lending solutions to address the needs of the agricultural sector.
Recognition and Rating
In a recent assessment, Bank of the Sierra was recognized among the strongest community banks in the nation. The bank received a prestigious 5-star rating from Bauer Financial in 2024, a clear indication of its stability and performance in the competitive banking landscape.
Commitment to Customers and Employees
Sierra Bancorp and Bank of the Sierra prioritize not only the financial health of their institution but also the satisfaction of their customers and the well-being of their employees. Maintaining a focus on professional development, they aim to attract and retain top talent within the industry, ensuring that their service standards meet and exceed customer expectations.
Frequently Asked Questions
What is the new quarterly dividend amount announced by Sierra Bancorp?
Sierra Bancorp has announced a quarterly cash dividend of $0.25 per share.
By what percentage has the dividend increased?
The dividend has increased by $0.01 per share, which is a 4% increase compared to the previous quarter.
How long has Sierra Bancorp been paying dividends?
They have paid regular cash dividends to shareholders without interruption since 1987.
Where does Bank of the Sierra operate?
Bank of the Sierra operates branches primarily in the South San Joaquin Valley, including multiple counties like Tulare, Kern, and Fresno.
What rating did Bank of the Sierra receive in 2024?
Bank of the Sierra was awarded a 5-star rating from Bauer Financial, indicating strong financial performance.
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