CONWAY, Ark., Nov. 30, 2012 (GLOBE NEWSWIRE) -- Home BancShares, Inc.'s (Nasdaq:HOMB), parent company of Centennial Bank, Board of Directors declared a cash dividend of $0.13 per share payable December 31, 2012, to shareholders of record December 17, 2012. This dividend is in addition to the previously declared regular quarterly cash dividend set to be paid December 5, 2012 and is a result of the likelihood of increased tax rates on dividends in 2013. The Company is still evaluating whether this dividend will be a special, one-time cash dividend or a cash dividend in lieu of the regular quarterly cash dividend for the first quarter of 2013. Either way, it is a dividend that will be 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).
"By taking this action before year end 2012, we can guarantee our shareholders benefit from the lowest possible dividend tax rates," said John Allison, Chairman.
Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Our wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has locations in central Arkansas, north central Arkansas, southern Arkansas, the Florida Keys, southwestern Florida, central Florida, the Florida Panhandle and south Alabama. The Company's common stock is traded through the NASDAQ Global Select Market under the symbol "HOMB."
This release contains forward-looking statements regarding the Company's plans, expectations, goals and outlook for the future. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risk and uncertainties. Various factors, including, but not limited to, economic conditions, credit quality, interest rates, loan demand, the ability to successfully integrate new acquisitions and changes in the assumptions used in making the forward-looking statements, could cause actual results to differ materially from those contemplated by the forward-looking statements. Additional information on factors that might affect Home BancShares, Inc.'s financial results are included in its Annual Report on Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission.
CONTACT: FOR MORE INFORMATION CONTACT: Brian Davis Chief Accounting Officer & Investor Relations Officer Home BancShares, Inc. (501) 328-4770Source:Home BancShares, Inc.