BIRMINGHAM, Ala. - First US Bancshares, Inc. (NASDAQ:FUSB), a bank holding company, has declared a cash dividend of $0.07 per share, marking a 40% increase from the previous quarterly dividend of $0.05 per share. The new dividend is payable on January 2, 2025, to shareholders of record as of December 13, 2024.
This increase represents the forty-second consecutive quarter that First US Bancshares has paid a dividend. James F. House, President and Chief Executive Officer of the company, expressed his satisfaction with the dividend increase, attributing it to the company's earnings growth and stability. He emphasized the ongoing commitment to rewarding shareholders while maintaining a solid capital foundation.
First US Bancshares operates through its subsidiary, First US Bank, with banking offices located in Alabama, Tennessee, and Virginia. The company is publicly traded on the Nasdaq Capital Market and regularly files reports with the U.S. Securities and Exchange Commission (SEC). Interested parties can access these filings through the SEC's website or the company's website.
The company's forward-looking statements indicate a cautious approach, acknowledging the potential risks and uncertainties that could affect future results. Factors that may impact the accuracy of these statements include credit risks, market conditions, competition, interest rates, technological and cybersecurity threats, regulatory compliance, and changes in accounting and tax laws.
The Board of Directors retains the discretion to modify the company's dividend policy based on prevailing conditions, including financial performance and capital requirements. As with any forward-looking statements or dividend policies, they are subject to change and dependent on various factors, as detailed in the company's SEC filings.
This news is based on a press release statement from First US Bancshares, Inc.
In other recent news, First US Bancshares reported significant developments. The company declared a quarterly cash dividend of $0.05 per share, marking its forty-first consecutive quarter of shareholder dividends. The payout date is slated for October 1, 2024, for shareholders on record as of September 13, 2024. The company also announced the appointment of Robert C. Field to its Board of Directors and that of its subsidiary, First US Bank. Field, with over 35 years of experience in diverse sectors, also joins the Audit Committee and the Asset/Liability Committee. In addition to these roles, Field is recognized for his contributions to public service and philanthropy. These recent developments reflect First US Bancshares' commitment to its shareholders and strategic growth.
InvestingPro Insights
First US Bancshares' recent dividend increase aligns with its strong financial performance and commitment to shareholder value. According to InvestingPro data, the company's market capitalization stands at $70.13 million, with a P/E ratio of 8.29, indicating a relatively attractive valuation compared to its earnings.
An InvestingPro Tip highlights that FUSB has maintained dividend payments for 11 consecutive years, underscoring the company's dedication to consistent shareholder returns. This track record supports President James F. House's statement about the company's commitment to rewarding shareholders while maintaining a solid capital foundation.
Another relevant InvestingPro Tip reveals that FUSB is trading near its 52-week high, with a strong return over the last three months. This positive momentum is reflected in the company's impressive price total returns, including a 37.49% return over the past year and a 20.7% return year-to-date.
The company's profitability over the last twelve months, as noted in an additional InvestingPro Tip, is further evidenced by its operating income margin of 28.53% for the last twelve months as of Q3 2024. This robust profitability supports the company's ability to increase its dividend payout.
For investors seeking more comprehensive insights, InvestingPro offers 3 additional tips that could provide valuable context for FUSB's financial position and market performance. To access these tips and a wealth of additional data, visit InvestingPro.
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