W.T.B. Financial Corporation Declares Cash Dividend for Shareholders
W.T.B. Financial Corporation has made a significant announcement regarding its quarterly cash dividend. Shareholders can expect a distribution of $1.85 per Class A and B common share. This regular dividend payout will be applicable to those who hold shares at the close of business on March 7, 2025, and is scheduled for payment on March 14, 2025. This dividend rate remains consistent with the prior rate, demonstrating the company’s commitment to returning value to its shareholders.
Details of the Share Repurchase Program
Alongside the dividend declaration, W.T.B. Financial Corporation has also introduced a new share repurchase authorization. This program allows for the repurchase of up to $15 million worth of Class B common stock, effective through February 28, 2026. Notably, a previous stock repurchase plan that was authorized on February 27, 2024, has concluded. The management team will decide the quantity and timing of shares to be repurchased, taking into account market conditions and the overall corporate strategy.
Compliance and Considerations for Share Repurchases
The forthcoming share repurchase activities will adhere to the safe harbor provisions as specified by Rule 10b-18 under the Securities and Exchange Act of 1934. This approach ensures that the company engages in share repurchases responsibly and transparently. Furthermore, the Board of Directors retains the right to pause or terminate the repurchase program at any point, providing flexibility to respond to evolving market dynamics.
About W.T.B. Financial Corporation
W.T.B. Financial Corporation proudly operates as a bank holding company based in Spokane. As the parent entity of Washington Trust Bank, which stands as the largest independently owned full-service commercial bank in the Northwest since its inception in 1902, it plays a major role in the regional economy. The bank boasts over $10 billion in assets, with more than 40 branches spanning across nearby states. The extensive workforce of approximately 1,200 individuals underpins the bank's commitment to serving the community.
Frequently Asked Questions
What is the declared dividend amount?
The declared quarterly cash dividend is $1.85 per common share.
When will the dividend be paid?
The dividend is scheduled for payment on March 14, 2025.
What is the purpose of the share repurchase program?
It allows the company to buy back shares to enhance shareholder value and reflect corporate financial strategies.
How much stock can be repurchased under the new plan?
The new plan allows for up to $15 million in Class B common stock repurchases.
What guidelines does the share repurchase follow?
The company will conduct repurchases in compliance with Rule 10b-18 of the Securities and Exchange Act of 1934.
