Sierra Bancorp Declares $0.12 Cash Dividend
October 21 2005 - 11:42AM
Business Wire
Sierra Bancorp (Nasdaq:BSRR), parent of Bank of the Sierra, today
announced that its Board of Directors has declared a regular
quarterly cash dividend of $0.12 per share, which is 20% above the
quarterly dividend paid a year ago and 9% higher than the dividend
paid last quarter. The dividend will be paid on November 15, 2005
to shareholders of record as of November 1, 2005. "We feel that the
Company's solid financial performance for the third quarter merits
this substantial increase in our quarterly dividend," stated James
C. Holly, President and CEO. Sierra Bancorp is the holding company
for Bank of the Sierra (www.bankofthesierra.com), which is in its
28th year of operations and is the largest independent bank
headquartered in the South San Joaquin Valley. The Company has over
$1 billion in total assets and currently maintains eighteen branch
offices and two agricultural credit centers. In June 2005, Sierra
Bancorp was added to the Russell 2000 index based on relative
growth in market capitalization. In its July 2005 edition, US
Banker magazine ranked Sierra Bancorp as the nation's 8th best
performing publicly-traded community bank based on three-year
average return on equity. The statements contained in this release
that are not historical facts are forward-looking statements based
on management's current expectations and beliefs concerning future
developments and their potential effects on the Company. Readers
are cautioned not to unduly rely on forward looking statements.
Actual results may differ from those projected. These
forward-looking statements involve risks and uncertainties
including but not limited to the bank's ability to maintain current
dividend payments or increase dividend payouts to shareholder, its
ability to continue to generate record financial results, changes
in economic conditions, interest rates and loan portfolio
performance, and other factors detailed in the Company's SEC
filings. Sierra Bancorp undertakes no responsibility to update or
revise any forward-looking statements.
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