South Plains Financial Announces 7% Increase to Quarterly Cash Dividend

South Plains Financial has announced a 7% increase in its quarterly cash dividend to $0.16 per share. The dividend is payable on August 11, 2025 to shareholders of record as of July 28, 2025. The company is the parent of City Bank and operates in Texas and New Mexico.

South Plains Financial, Inc. (SPFI) has announced a significant increase in its quarterly cash dividend, raising it by 7% to $0.16 per share. The dividend will be payable on August 11, 2025, to shareholders of record as of July 28, 2025. This move underscores the company's commitment to maintaining a steady stream of income for its shareholders while positioning itself for continued growth.

The dividend increase comes on the heels of the company's robust second-quarter earnings report, which highlighted strong financial performance across various metrics. The company reported expanded margins, higher net interest income, and increased earnings per share, supported by solid credit quality and steady capital ratios [1].

South Plains Financial's Chief Executive Officer, Curtis Griffith, expressed gratitude to the company's employees for their dedication and hard work, which contributed to the bank's success. He also acknowledged the impact of the recent floods in Texas and New Mexico, emphasizing the company's commitment to supporting those affected [1].

The company's Chief Financial Officer, Steve Crockett, noted that the increase in the dividend reflects the bank's strong financial position and its ability to generate consistent earnings. The company's yield on loans reached 6.99% in the second quarter, driven by a 23 basis point one-time benefit from a $1.7 million interest recovery [1].

South Plains Financial's dividend increase is a testament to its financial strength and commitment to shareholders. The company's strategy to balance organic growth with strategic acquisitions, as well as its focus on maintaining strong capital ratios, positions it well for future growth and profitability.

References:
[1] https://www.fool.com/earnings/call-transcripts/2025/07/16/south-plains-spfi-q2-2025-earnings-call-transcript/