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On February 23, 2024, the closing market price was $33.95 per share.
−Removed: The Company has paid cash dividends on its common stock in every quarter since March 1990, and it is currently the intention of the Board of Directors of the Company to continue payment of cash dividends on a quarterly basis.
−Removed: There is no assurance, however, that any dividends will be paid since they are dependent upon earnings, financial condition and capital requirements of the Company and the Bank.
−Removed: During the calendar year ended December 31, 2022, the Company paid quarterly dividends of $0.25 per share for Q1 and Q2, increasing to $0.30 per share of cash dividends for Q3 and Q4, equaling a total of $1.20 per share for the year then ended.
−Removed: As of December 31, 2022, there was $157,036,000 available for payment of dividends by the Bank to the Company, under applicable laws and regulations.
−Removed: See “Note 27 – Summary of Quarterly Results of Operations (unaudited)” for the quarterly cash dividends paid by the Company in 2022 and 2021.
−Removed: Issuer Repurchases of Common Stock
−Removed: The Company has one previously announced stock repurchase plan under which it is currently authorized to purchase shares of its common stock.
−Removed: The table that follows provides additional information regarding this plan.
−Removed: Announcement Date Total shares approved
−Removed: for purchase Total shares repurchased
−Removed: under the plan Expiration date
−Removed: 2/25/2021 2,000,000 640,198 none
−Removed: The following table shows the repurchases made by the Company or any affiliated purchaser (as defined in Rule 10b-18(a)(3) under the Exchange Act) during the fourth quarter of 2022:
−Removed: Period (a) Total number of
−Removed: shares purchased (b) Average price
−Removed: paid per share (c) Total number of shares
−Removed: purchased as of part
−Removed: of publicly announced
−Removed: plans or programs (d) Maximum number
−Removed: of shares that may
−Removed: yet be purchased under
−Removed: or programs (1)
−Removed: October 1-31, 2022 5,000 $ 45.61 5,000 1,359,802
−Removed: November 1-30, 2022 — $ — — 1,359,802
−Removed: December 1-31, 2022 — $ — — 1,359,802
−Removed: Total 5,000 $ — 5,000 1,359,802
−Removed: (1) Does not include shares that may be purchased by the Company’s Employee Stock Ownership Plan and pursuant to various other equity incentive plans.
−Removed: 24 TriCo Bancshares 2022 10-K
+Added: Information regarding restrictions on dividends, as required by this Item, is set forth in Item 1:
+Added: “Business - Dividends, Distributions and Regulatory Matters” and in Note 26 - “Regulatory Matters” of the Notes to consolidated financial statements and incorporated into this Item by reference.
TriCo Bancshares Stock Performance
−Removed: The following graph presents the cumulative total yearly shareholder return from investing $100 on December 31, 2017, in each of TriCo common stock, the Russell 3000 Index, and the SNL Western Bank Index.
−Removed: The SNL Western Bank Index compiled by SNL Financial includes banks located in California, Oregon, Washington, Montana, Hawaii and Alaska with market capitalization similar to that of TriCo’s.
+Added: The following graph presents the cumulative total yearly shareholder return from investing $100 on December 31, 2018, in each of TriCo common stock, the Russell 3000 Index, and the S&P Western Bank Index.
+Added: The S&P Western Bank Index includes banks located in California, Oregon, Washington, Montana, Hawaii and Alaska with market capitalization similar to that of TriCo’s.
The amounts shown assume that any dividends were reinvested.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.