CVB Financial Corp Announces 134th Consecutive Quarterly Dividend
CVB Financial Corp (NASDAQ: CVBF) announced its 134th consecutive quarterly dividend on its common stock. The dividend of $0.17 per share is payable on April 30, 2021 to shareholders of record as of April 16, 2021.
CVB Financial Corp is the holding company for Citizens Business Bank, a full-service business bank with $13.3 billion in assets. The bank provides a wide range of financial services to small and medium-sized businesses, entrepreneurs, real estate investors, professionals, and individuals.
CVB Financial Corp’s History
CVB Financial Corp was founded in 1974 as Citizens Business Bank. The bank was established to serve the needs of small and medium-sized businesses in the Inland Empire region of Southern California. Since then, the bank has grown to become one of the largest independent banks in the state.
The bank has a long history of providing financial services to its customers. It has consistently provided competitive rates and terms on loans and deposits, as well as a wide range of other services.
CVB Financial Corp’s Dividend Policy
CVB Financial Corp has a long history of paying dividends to its shareholders. The bank has paid a dividend every quarter since 1987, making it one of the longest-running dividend payers in the banking industry.
The bank’s dividend policy is to pay a quarterly dividend that is equal to 25% of its net income for the preceding four quarters. This policy has been in place since the bank’s founding and has been consistently followed since then.
CVB Financial Corp’s Financial Performance
CVB Financial Corp has consistently delivered strong financial performance. The bank has reported net income of $2.1 billion for the twelve months ended December 31, 2020. This represents a 7.3% increase over the same period in 2019.
The bank’s return on average assets was 1.20% for the twelve months ended December 31, 2020, compared to 1.17% for the same period in 2019. The bank’s return on average equity was 11.3% for the twelve months ended December 31, 2020, compared to 10.9% for the same period in 2019.
CVB Financial Corp’s Outlook
CVB Financial Corp is well-positioned to continue to deliver strong financial performance in the future. The bank has a strong balance sheet, a diversified loan portfolio, and a strong capital position.
The bank is also well-positioned to benefit from the economic recovery that is expected to take place in the coming years. The bank is well-positioned to take advantage of the opportunities that will arise from the recovery, such as increased loan demand and higher interest rates.
CVB Financial Corp’s Commitment to Shareholders
CVB Financial Corp is committed to providing value to its shareholders. The bank’s long history of paying dividends is a testament to this commitment. The bank’s dividend policy is designed to provide shareholders with a steady stream of income, while also providing the bank with the flexibility to adjust the dividend as needed.
The bank is also committed to providing shareholders with a strong return on their investment. The bank’s strong financial performance and outlook demonstrate its commitment to delivering value to its shareholders.
Conclusion
CVB Financial Corp is a well-established bank with a long history of providing financial services to its customers. The bank has consistently paid a dividend every quarter since 1987 and has a strong financial performance and outlook. The bank is committed to providing value to its shareholders through its dividend policy and strong financial performance.