Southside Bancshare Inc. (SBSI) has it all – Relatively high dividends ( for a Bank) , Pays Special Dividend and to top it off pays a “Share Dividend” every year. I am not one to invest in banks but with this one I made an exception for myself.
Southside Bancshares, Inc. is a holding company for Southside Bank, a regional bank established in 1960 and is located in Tyler, Texas and serves central, eastern and northern Texas with it’s current 60 locations and 70 ATMs. It is a full service bank with more than $5.6 Billion in assets.
It has a current quarterly dividend of 0.25 cents per share ( $1.00 per share annually) with a current dividend yield of 2.81% with a payout ratio of approximately 54%. (May 2017)
In addition to its regular dividend it also pays a “Special Dividend” historically in December of each year with the last two being .0500 per share (December 2016) and .0762 per share (December 2015). A special dividend is one that is paid in addition to the regular dividend a stock pays.
And as an added bonus the SBSI pays an annual “Share Dividend” usually in May or June of each year with this years Share Dividend expected to be announced any day now. It has paid this “Share Dividend ” each year since 1997 and has paid a regular dividend since June 1997. The first year the dividend was paid on a semi-annual basis.
For more detailed information you can visit its Investor Relations Page.
I have owned this stock less than a year now but I am confident I will hold it in my portfolio for years to come. In my opinion it will continue to be a real winner for me. Maybe it just might be the stock you have been looking for!
Your comments are always welcome!