Sterling Financial Corporation Announces Special Cash Dividend and Accelerated Payment Date for Regular Quarterly Cash Dividend
December 12 2012 - 8:30AM
Business Wire
Sterling Financial Corporation (NASDAQ:STSA) (the “Company”)
today announced that its Board of Directors (“Board”) has
authorized the declaration of a special cash dividend of $0.35 per
common share payable on December 28, 2012 to shareholders of record
as of December 21, 2012. In addition, the Board has authorized the
accelerated payment of the regular quarterly cash dividend of $0.15
per common share that would have otherwise been declared and paid
during the first quarter of 2013. The record and payable dates for
this regular cash dividend will be the same as for the special cash
dividend.
“The declaration of the special dividend and acceleration of the
first quarter regular dividend were carefully considered in
conjunction with our ongoing capital management process and in
light of expected changes in tax rates applicable to cash
dividends,” remarked Greg Seibly, President and Chief Executive
Officer.
About Sterling Financial Corporation
Sterling Financial Corporation (NASDAQ:STSA) of Spokane,
Washington, is the bank holding company for Sterling Savings Bank,
a Washington state chartered and federally insured commercial bank.
Sterling Savings Bank does business as Sterling Bank and Sonoma
Bank (in California). Sterling offers banking products and
services, mortgage lending, and trust and investment products to
individuals, small businesses, corporations and other commercial
organizations. As of Sept. 30, 2012, Sterling had assets of $9.47
billion and operated depository branches in Washington, Oregon,
Idaho and California. Visit Sterling’s website at
www.bankwithsterling.com.
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