UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 17, 2017
INTERNATIONAL BANCSHARES CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Texas |
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000-09439 |
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74-2157138 |
(State or other Jurisdiction |
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(Commission File Number) |
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(I.R.S. Employer |
of incorporation or organization) |
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Identification No.) |
1200 San Bernardo, Laredo, Texas |
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78040-1359 |
(Address of principal executive offices) |
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(ZIP Code) |
(Registrants telephone number, including area code) (956) 722-7611
None
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below);
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 250.13e-4 (c))
Item 8.01 Other Events
On March 20, 2017, International Bancshares Corporation (IBC) issued a news release announcing that on March 17, 2017, its Board of Directors approved the declaration of a thirty-three (.33) cents per share cash dividend for all holders of Common Stock, $1.00 par value, of record on April 3, 2017. The dividend will be payable on April 17, 2017.
The news release, attached hereto and filed herewith as Exhibit 99, is incorporated herein by reference.
All of the information furnished in Item 8.01 of this report and the accompanying exhibits is also intended to be included under Item 7.01 Regulation Fair Disclosure and shall not be deemed to be filed for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, is not subject to the liabilities of that section and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended.
Item 9.01 Financial Statements and Exhibits.
99 News Release of International Bancshares Corporation dated March 20, 2017 entitled, International Bancshares Corporation Announces Increase in Cash Dividend
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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INTERNATIONAL BANCSHARES CORPORATION | |
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(Registrant) | |
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/s/ Dennis E. Nixon |
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By: |
Dennis E. Nixon, President and |
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Chairman of the Board |
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March 20, 2017 |
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EXHIBIT 99
FOR IMMEDIATE RELEASE
Contact:
Judy Wawroski
Senior Vice President
International Bancshares Corporation
(956) 722-7611 (Laredo)
INTERNATIONAL BANCSHARES CORPORATION
ANNOUNCES INCREASE IN CASH DIVIDEND
LAREDO, TX, -(BUSINESS WIRE)-March 20, 2017 - International Bancshares Corporation (IBC) (NASDAQ:IBOC), today announced that on March 17, 2017, its Board of Directors approved the declaration of a thirty-three cents per share cash dividend for shareholders of record as of the close of business on April 3, 2017, payable on April 17, 2017. This cash dividend, which reflects an increase of 6.5% over IBCs most recent cash dividend, was made possible because of the Companys strong capital position and achieving superior earnings despite the challenging times, said Dennis E. Nixon, President and CEO of IBC.
It is the inclination of the Board to continue to declare semiannual cash dividends. However, any declaration of future cash dividends will depend upon IBCs financial position, strategic plans, and general business conditions at the time.
IBC is a multi-bank financial holding company headquartered in Laredo, Texas, with $11.8 billion in total assets, 194 facilities and over 307 ATMs serving 87 communities in Texas and Oklahoma.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts contain forward-looking information with respect to plans, projections or future performance of IBC and its subsidiaries, the occurrence of which involve certain risks and uncertainties detailed in IBCs filings with the Securities and Exchange Commission.
Copies of IBCs SEC filings and Annual Report (as an exhibit to the 10-K) may be downloaded from the SEC filings site located at http://www.sec.gov/edgar.shtml or IBCs website at http://www.ibc.com.