Home BancShares, Inc.’s (Nasdaq:HOMB), parent company of Centennial Bank, Board of Directors declared a regular $0.13 per share quarterly cash dividend payable March 6, 2013, to shareholders of record Feb. 13, 2013.
This cash dividend represents a $0.03 per share, or 30 percent, increase over the $0.10 cash dividend paid during the first quarter of 2012 and is equal to both the regular and the special cash dividend paid during the fourth quarter of 2012.
During the fourth quarter of 2012, the Board of Directors paid a second dividend for the quarter on Dec. 31, 2012. This dividend has been declared by the Board of Directors as a special one-time cash dividend versus a cash dividend in lieu of the regular quarterly cash dividend for the first quarter of 2013.
This special fourth quarter dividend was paid out of current earnings and profits in accordance with IRC Section 316 and therefore, will be entirely classified as a qualifying dividend for income tax purposes pursuant to Section 1(h).