CB Increases Regular Cash Dividend

Columbia Banking System, Inc. announced today that a quarterly cash dividend of $0.14 per common share, and per common share equivalent for holders of preferred stock,  will be paid on August 20, 2014 to shareholders of record as of the close of business on August 6, 2014.  The $0.14 regular dividend represents an increase of nearly 17% from the regular dividend paid in recent quarters.   

In addition, the Board of Directors declared a special cash dividend of $0.14 per common share, and per common share equivalent for holders of preferred stock, which will also be paid on August 20, 2014 to shareholders of record as of the close of business on August 6, 2014.  

Melanie Dressel, President and Chief Executive Officer noted, “Our ongoing commitment is to actively manage our capital position. In light of the quality of our quarterly earnings and increasing capital levels, we are pleased to be in a position to both increase our regular dividend and pay a special cash dividend.  Along with our regular dividend, this constitutes a payout ratio of 70% for the quarter and a dividend yield of 4.52% based on the closing price on July 23, 2014.”