Texas Regional Bancshares, Inc. Declares 10 Percent Stock Dividend and $0.14 Cash Dividend
March 14 2006 - 12:19PM
PR Newswire (US)
MCALLEN, Texas, March 14 /PRNewswire-FirstCall/ -- Texas Regional
Bancshares, Inc. (NASDAQ:TRBS) ("Texas Regional"), bank holding
company for Texas State Bank, announced that its Board of Directors
today declared a 10 percent stock dividend (one new share for each
ten shares held) and a regular quarterly cash dividend of $0.14 per
common share. The dividends are payable on April 13, 2006 to common
shareholders of record on March 31, 2006. The stock dividend will
increase the Company's outstanding common shares to approximately
54,743,796, an increase of 4,976,709. Fractional shares will not be
issued, but instead will be paid in cash. The regular quarterly
cash dividend represents an increase of $0.04 per common share, or
40 percent, over the same period in 2005. The cash dividend will
also be paid on common shares issued in the stock dividend. Other
Information Texas Regional is a McAllen-based bank holding company
whose stock trades on The Nasdaq Stock Market(R) under the symbol
TRBS. Texas State Bank, its wholly-owned subsidiary, conducts a
commercial banking business through 74 banking centers across Texas
primarily located in the metropolitan areas of Beaumont-Port
Arthur, Brownsville-Harlingen-San Benito, Corpus Christi, Dallas,
Houston, McAllen-Edinburg-Mission and Tyler. Additional financial,
statistical and business-related information, as well as business
trends, is included in a quarterly financial supplement. This
release, the financial supplement and other information are
available on Texas Regional's website at http://www.trbsinc.com/ .
The financial supplement and other information available on Texas
Regional's website can also be obtained at no charge from John A.
Martin, Chief Financial Officer, (956) 631-5400. Forward-Looking
Information This release, the financial supplement, information
filed by Texas Regional with the SEC and information on Texas
Regional's website may contain forward-looking information
(including information related to plans, projections or future
performance of Texas Regional and its subsidiaries and planned
market opportunities, employment opportunities and synergies from
mergers), the occurrence of which involve certain risks,
uncertainties, assumptions and other factors which could materially
affect future results. If any of these risks or uncertainties
materializes or any of these assumptions prove incorrect, Texas
Regional's results could differ materially from Texas Regional's
expectations in these statements. Texas Regional assumes no
obligation and does not intend to update these forward-looking
statements. For further information, please see Texas Regional's
reports filed with the SEC pursuant to the Securities Exchange Act
of 1934, which are available at Texas Regional's website at
http://www.trbsinc.com/ and the SEC's website at
http://www.sec.gov/ . CONTACT: Glen E. Roney, Chief Executive
Officer, or John A. Martin, Chief Financial Officer, at (956)
631-5400, both of Texas Regional. DATASOURCE: Texas Regional
Bancshares, Inc. CONTACT: Glen E. Roney, Chief Executive Officer,
or John A. Martin, Chief Financial Officer, both of Texas Regional
Bancshares, Inc., +1-956-631-5400 Web site: http://www.trbsinc.com/
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