Sierra Bancorp Declares $0.14 Quarterly Cash Dividend
July 21 2006 - 12:53PM
PR Newswire (US)
PORTERVILLE, Calif., July 21 /PRNewswire-FirstCall/ -- 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 $0.14 per share, which is 8% higher than
the $0.13 dividend paid last quarter and 27% higher than the $0.11
quarterly dividend paid a year ago. The dividend will be paid on
August 22, 2006 to shareholders of record as of August 7, 2006.
"This dividend increase is easily justified by our continued strong
financial performance," stated James C. Holly, President and CEO.
"Our robust operating results have generated adequate capital for
future growth, while also allowing us to reward our shareholders
with a cash return," Holly added. Sierra Bancorp is the holding
company for Bank of the Sierra (http://www.bankofthesierra.com/),
which is in its 29th year of operations and is the largest
independent bank headquartered in the South San Joaquin Valley. The
Company has $1.15 billion in total assets and currently maintains
twenty branch offices, an agricultural credit center, and an SBA
center. In June 2005, Sierra Bancorp was added to the Russell 2000
index based on relative growth in market capitalization. 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.
DATASOURCE: Sierra Bancorp CONTACT: Ken Taylor, EVP/CFO, or Hope
Attenhofer, SVP/Marketing Director, both of Sierra Bancorp,
+1-559-782-4900 or 888-454-BANK Web site:
http://www.bankofthesierra.com/
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