TUPELO — The BancorpSouth Inc. board of directors has declared a quarterly cash dividend of $0.05 per common share, which is a $0.04 per share or 400 percent increase over the company’s previous quarterly dividend payment of $0.01 per common share.
The dividend is payable Oct. 1 to shareholders of record at the close of business on Sept. 13.
The $0.05 per share payment is the first increase in BancorpSouth’s cash dividend since the reduction of the quarterly payment to $0.01 per share in the second quarter of 2011.
CEO Dan Rollins said, “I am encouraged with the progress made through the first half of this year towards our efforts to improve our efficiency and expense control, our continued progress in improving asset quality, and our revenue growth opportunities as we continue to emphasize to our people the importance of growth, both in our loan portfolio and in our lines of business.”
BancorpSouth reported net income of $20.8 million or $0.22 per diluted share for the second quarter of 2013.