CVB Financial Corp. announcement – GuruFocus.com
ONTARIO, Calif., June 15, 2022 (GLOBE NEWSWIRE) — CVB Financial Corp. (CVBF) (the “Company”) has announced a cash dividend of nineteen cents ($0.19) per share for the second quarter of 2022. This equates to a quarterly dividend increase of one cent (0 $.01) per share, compared to the dividend of $0.18 per share for the first quarter of 2022, and represents our 131st consecutive quarterly cash dividend. This dividend increase was approved at the regular meeting of the Company’s Board of Directors held on June 15, 2022. The quarterly dividend will be payable on or around July 15, 2022 to shareholders of record as of June 30, 2022.
“Our company’s strong levels of capital and liquidity, combined with our remarkable track record of 180 consecutive quarters of profitability, have enabled us to pay cash dividends to our shareholders for 131 consecutive quarters,” said David A. Brager, President and CEO. “With the integration of our acquisition of Suncrest Bank now complete, we are pleased to increase our quarterly dividend by almost 6%. We believe this higher dividend, combined with our common share buyback plan, demonstrates our continued commitment to delivering strong returns to our shareholders.
CVB Financial Corp. (“CVBF”) is the holding company of Citizens Business Bank. CVBF is a California-headquartered top 10 bank holding company with total assets of approximately $17 billion. Citizens Business Bank is consistently recognized as one of the nation’s top performing banks and offers a wide range of banking, lending and investment services with over 60 banking centers and 3 trust offices serving the Inland Empire, County of Los Angeles and Orange County. , San Diego County, Ventura County, Santa Barbara County and Central California.
The common shares of CVB Financial Corp. are listed on NASDAQ under the symbol “CVBF”. For information about CVBF for investors, visit our Citizens Business Bank website at www.cbbank.com and click on the ‘Investors’ tab.
Certain matters set forth herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to the Company’s current business plans and expectations, growth projections, and our financial condition and future results of operations. Words such as “will likely result”, “aims”, “anticipates”, “believes”, “could”, “estimates”, “expects”, “hopes”, “intends”, “may “, “plans”, “projects”, “seeks”, “should”, “will” and variations of such words and similar expressions help identify such forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, all of the risk factors set forth in the Company’s public reporting, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and in particular the discussion of risk factors in this document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect events or unanticipated events or circumstances after the date of such statements, except as required by law.
Contact: David A. Brager
President and CEO
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