Compass Bancshares Increases Dividend 10 Percent, Announces Addition of James H. Click Jr. to Board of Directors.Business Editors BIRMINGHAM, Ala.--(BUSINESS WIRE)--Feb. 22, 2000 The Compass Bancshares Compass Bancshares, Inc. is a privately held company based in Birmingham, Alabama. Its subsidiary, Compass Bank, is a Southwestern financial holding company with $47 billion in assets and 417 full-service banking offices in Alabama, Arizona, Colorado, Florida, New Mexico, and Texas. Inc. (Nasdaq:CBSS CBSS Council of Baltic Sea States CBSS Craft and Boat Support System CBSS Coastal Border Surveillance System (MSSC) CBSS Closed-Breach Scavenging System (compressed air system for removing smoke from tank gun tubes) ) board of directors declared a quarterly dividend of $0.22 per share, a 10 percent increase over the prior quarter. The dividend is payable April 3, 2000, to all shareholders of record on March 15, 2000. The indicated annual dividend of $0.88 per share represents the 19th consecutive year that Compass has increased its dividend to shareholders, and follows Compass' 12th consecutive year of record earnings and earnings per share. Over the past 10 years, Compass earnings and annual 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. have grown at compound annual rates of 17 percent and 14 percent, respectively. Compass assets during the same period have grown at a compound annual rate of 12 percent. Compass also announced that James (Jim) H. Click Jr. has been named to the board of directors of Compass Bancshares Inc. A prominent Tucson, Ariz., businessman and civic leader, Click is co-managing partner of the Tuttle-Click Automotive Group, a California general partnership with 12 affiliated corporations, which owns 19 automotive dealership franchises in Arizona and California. In addition, Click also served as chairman of Arizona Bank for 20 years before it was acquired by Compass in December 1998, and currently serves on the board of directors of Compass Bank-Tucson. "Compass' outstanding earnings this past year and our strong capital position enable us once again to reward our shareholders for their investment in our company by increasing the annual dividend," Compass chairman and chief executive officer D. Paul Jones Paul Jones can refer to:
"Moreover, our strategic positioning into key Sunbelt states gives our shareholders solid reason to be optimistic about Compass' future growth," stated Jones. "We welcome Jim Click to the board," Jones said. "In addition to his individual contributions as an astute businessman, his knowledge of the Arizona market will be invaluable. Compass is now the fourth largest bank in Arizona and Jim joining our board complements our Sunbelt strategy." Compass Bancshares Inc. is an $18.2 billion Sunbelt-based financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company which operates 310 full-service banking offices in Arizona, Alabama, Florida, New Mexico and Texas. When the pending acquisition of MegaBank Financial Corporation in Denver, Colo., is completed, Compass will have assets of more than $18.8 billion and operate 319 banking offices in the six states. Compass reported record earnings of $217 million for 1999. Shares of Compass' common stock are traded through the Nasdaq stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol CBSS. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 Statements in this press release regarding Compass Bancshares Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the Company's Annual Report or Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the most recently ended fiscal year. |
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