I really shouldn't have checked this stock before I went to bed. It's midnight and I can't sleep. Even though I need to wake up early tomorrow so I can play Army in the woods the next few days, I can't stop thinking about this.
The Board of Directors of Southside Bancshares, Inc., (Nasdaq:SBSI), parent
company of Southside Bank declared a special cash dividend for 2012 of $0.13 per
common share in addition to declaring a regular quarterly cash dividend of $0.20
per common share. In addition, due to the potential changes in the tax code the
Board approved a one time only additional cash dividend of $0.20 per share. The
Board believes that it might be more beneficial for the shareholder to receive
this one time cash dividend this year than in future years. This $0.20 one time
only additional cash dividend will not be repeated in the foreseeable
future. The combined cash dividend of $0.53 is payable to common stock
shareholders of record November 21, 2012. The cash dividend is scheduled for
payment on December 6, 2012.
Apparently paying a special dividend isn't enough for SBSI. They decided to pay TWO special dividends this year! HAHA this is awesome! Not only that, but they also declared share repurchases on top of it all.
Let's recap 2012 for SBSI:
Dividend Growth >15%: check
Stock Split: check
Special Dividend: check
2nd Special Dividend: check
Stock Buybacks: check
I literally cannot think of any other company this shareholder friendly. Why does SBSI have to be a bank? I really want to transplant the management into a different sector!
Ok maybe I'll be able to sleep now.