Compass Bancshares Increases Dividend for 22nd Consecutive Year; Dividend Increases 12 Percent Following 15th Consecutive Year of Record Earnings.Business Editors BIRMINGHAM, Ala.--(BUSINESS WIRE)--Feb. 18, 2003 The board of directors of 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) ) announces a quarterly cash dividend of $0.28 per share, a 12 percent increase over the prior quarter. The dividend is payable on April 1, 2003, to shareholders of record as of the close of business on March 14, 2003. The indicated annual dividend of $1.12 per share represents the 22nd consecutive year that Compass has increased its dividend to shareholders, and follows Compass' 15th consecutive year of record earnings and earnings per share. Over the past 10 years, Compass earnings per share and annual dividend per share have grown at an annual compound rate of 12 percent and 13 percent, respectively. Compass assets over the same period have grown at a compound annual rate of 11 percent. Compass holds Mergent's "Dividend Achiever" designation for increasing dividends for at least 10 consecutive years. Earlier this year, Compass was named for the third consecutive year to Forbes "Platinum 400" list as one of the 400 best big companies in America. In addition, Compass was recently added to Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index S&P Top 10 portfolio based on potential capital appreciation over the next six to 12 months. Compass Bancshares, Inc. is a $23.9 billion Southwestern financial holding company which operates 352 full-service banking offices in Alabama, Arizona, Colorado, Florida, Nebraska, New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). and Texas. Compass is among the top 40 U.S. bank holding companies by asset size and ranks among the top earners of its size based on return on equity. 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 In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Compass Bancshares, Inc. notes that any statements in this press release, and elsewhere, that are not historical facts are "forward-looking statements" that involve risks and uncertainties that may cause the Company's actual results of operations to differ materially from expected results. For a discussion of such risks and uncertainties, see the Company's Annual Report on 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 as well as its other filings with the U.S. Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion