Amid Banking Crisis, This Regional Bank Is Scheduled To Pay A Whopping $28/Share Dividend This Month

Even as the banking industry continues to witness uncertainties in the wake of the SVB Financial Group's SIVB Silicon Valley Bank and New York-based Signature Bank closures as well as troubles at Swiss lender Credit Suisse Group AG CS, California-based Farmers And Merchants Bank of Long Beach FMBL is set to pay a hefty dividend this month.

What Happened: Data on Benzinga Pro shows that Farmers And Merchants Bank of Long Beach is scheduled to pay a whopping $28 dividend per share on March 31.

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"The declaration represents F&M's 521st dividend payment. F&M has paid a dividend each year to shareholders since 1916, and the value of F&M's quarterly dividend has never decreased," the bank had earlier said in a statement.

The record date for the dividend was March 15. The stock last traded at $6,070. Based on the price and the first quarter dividend extrapolated for the year, the dividend yield stands at close to 1.8%.

The bank had declared a net income for the fourth quarter of 2022 at $25.4 million compared with $29 million for the 2021 fourth quarter.

Other Payout: Chord Energy Corporation CHRD is set to pay a dividend of $4.8 per share on March 21, according to data on Benzinga Pro.

The total $4.8 per share dividend reflects a quarterly base dividend of $1.25 per share of common stock and quarterly variable dividend of $3.55 per share of common stock, the company had stated in a release.

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