SPOKANE, Wash., Feb. 27, 2024 /PRNewswire/ — W.T.B. Financial Corporation announced today that a quarterly cash dividend of $1.85 per Class A and B common share has been declared and will be paid on March 15, 2024, to shareholders of record at the close of business on March 8, 2024. The quarterly dividend rate of $1.85 per common share is the same as the prior dividend rate.
Additionally, the W.T.B. Financial Corporation announced the authorization of a share repurchase plan for up to $10.0 million of Class B common stock effective through February 28, 2025. In conjunction with the announcement of the new stock repurchase plan, the previous stock repurchase plan authorized on March 3, 2023, is immediately terminated. Common share repurchases under the new plan, if any, may be made from time to time on the open market through broker dealers or in privately negotiated transactions, at the discretion of Company management. The extent to which the Company purchases shares and the timing of any such purchases will depend upon a variety of factors, including market conditions and relevant corporate considerations. The share repurchase program will be conducted in a manner intended to comply with the safe harbor provisions of Rule 10b-18 under the Securities and Exchange Act of 1934 and may be suspended or terminated at any time by the Company’s Board of Directors without prior notice.
About W.T.B. Financial Corporation: W.T.B. Financial Corporation is a bank holding company headquartered in Spokane, Washington. Washington Trust Bank is the largest independently owned full-service commercial bank in the Northwest, serving the region since 1902. A wholly owned subsidiary of W.T.B. Financial Corporation, the bank has more than $11 billion in assets. Washington Trust Bank currently has over 40 branches and offices in Washington, Idaho, and Oregon. The bank employs approximately 1,200 people. Details can be found at https://www.watrust.com. The bank is also active on Facebook, Instagram, LinkedIn and X.
SOURCE W.T.B. Financial Corporation