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Columbia Banking System Announces Regular Cash Dividend of $0.18 and Declares Special Cash Dividend of $0.18

by User Not Found | Oct 29, 2015
October 29, 2015

Columbia Banking System, Inc. announced today that a quarterly cash dividend of $0.18 per common share, and per common share equivalent for holders of preferred stock, will be paid on November 25, 2015 to shareholders of record as of the close of business on November 11, 2015.

In addition, the Board of Directors declared a special cash dividend of $0.18 per common share, and per common share equivalent for holders of preferred stock, which will also be paid on November 25, 2015 to shareholders of record as of the close of business on November 11, 2015. This is a 13% increase from the $0.16 special cash dividend paid for the prior two quarters.

Melanie Dressel, President and Chief Executive Officer noted, “We are pleased that our financial performance and our current capital position allow us to pay a special cash dividend for the seventh consecutive quarter. Along with our regular dividend, the special dividend constitutes a payout ratio of 80% for the quarter and a dividend yield of 4.2% based on our closing price on October 28, 2015.”

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