BANCFIRST CORPORATION (NASDAQ:BANF) Files An 8-K Regulation FD DisclosureItem 7.01.
BancFirst Corporation Announces Declaration of Quarterly Dividend on its common stock and an Interest Payment on its BFC Capital Trust II
On August 23, 2018, BancFirst Corporation’s Board of Directors declared a $0.30 per share cash dividend on its common stock, an increase of 42.9% over the quarterly dividend that was paid in each of the previous four quarters. Both improving net interest income and the recent passage of the Tax Cuts and Jobs Act have markedly increased earnings of the Company. Notwithstanding the large percentage increase, dividend payout relative to earnings remains at prudent levels in comparison to industry peers. Congressional changes to corporate tax rates could affect future dividend levels. The dividend is payable October 15, 2018, to shareholders of record on September 28, 2018.
BancFirst Corporation will also pay the quarterly interest payment on $26.8 million of its 7.20% Junior Subordinated Debentures related to the trust preferred securities issued by its statutory trust subsidiary, BFC Capital Trust II. The trust will use the proceeds of the interest payment to pay a dividend of $0.45 per share on the trust preferred securities, payable October 15, 2018, to shareholders of record on September 28, 2018.
| Item 9.01. | Financial Statements and Exhibits. |
BANCFIRST CORP /OK/ ExhibitEX-99.1 2 tv501669_ex99-1.htm EXHIBIT 99.1 BancFirst Corporation Increases DividendOKLAHOMA CITY,…To view the full exhibit click here
About BANCFIRST CORPORATION (NASDAQ:BANF)
BancFirst Corporation is a financial holding company. The Company conducts its operating activities through its principal subsidiary, BancFirst (the Bank), a state-chartered bank. It has four business units, which include metropolitan banks, community banks, other financial services, and executive, operations and support. The metropolitan and community banks offer traditional banking products, such as commercial and retail lending, and a line of deposit accounts. The metropolitan banks consist of banking locations in the metropolitan Oklahoma City and Tulsa areas. The community banks consist of banking locations in communities throughout Oklahoma. Its other financial services are specialty product business units, including guaranteed small business lending, residential mortgage lending, trust services, securities brokerage, electronic banking and insurance. The executive, operations and support groups represent executive management, operational support and corporate functions.