Commerce Bancshares, Inc. Increases Dividend 8.4%.Business Editors ST. LOUIS--(BUSINESS WIRE)--Feb. 2, 2001 Commerce Bancshares This article is about the bank headquartered in Kansas City, Missouri. For other uses, see Commerce Bank. Commerce Bancshares (NASDAQ: CBSH) is a Kansas City, Missouri based bank with branches in Kansas, Missouri, Illinois, and Oklahoma. , Inc. (Nasdaq:CBSH) announced today that its Board of Directors declared a quarterly dividend of $.16 per share on the Company's common stock which represents a 8.4% increase over the prior dividend of $.15 1/2 per share, adjusted for the 5 percent stock dividend paid on December 15, 2000. This marks the 33rd consecutive year the company has increased total dividends per share Dividends per share Dividend paid for the past 12 months divided by the number of common shares outstanding, as reported by a company. The number of shares often is determined by a weighted average of shares outstanding over the reporting term. . The dividend is payable on March 30, 2001 to stockholders of record at the close of business on March 9, 2001. The Board of Directors also approved the additional purchase of up to 2,786,527 shares of company stock. This, coupled with the shares left to be purchased under the prior authorization prior authorization, n See predetermination. prior authorization Health insurance A cost containment measure that provides full payment of health benefits only if the hospitalization or medical treatment has been will provide the Company with authority to repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. 3,000,000 shares. Commerce Bancshares, Inc. is a registered bank holding company offering a full line of banking services, including retail and commercial banking, investment management and securities brokerage. The Company currently operates in approximately 330 locations in Missouri, Illinois, and Kansas. The Company also has other operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. involved in mortgage banking, credit related insurance, venture capital, and real estate activities. |
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