BancorpSouth Bank Declares Quarterly Common and Preferred Dividend

PR Newswire

TUPELO, Miss., Oct. 27, 2021

TUPELO, Miss., Oct. 27, 2021 /PRNewswire/ -- At its regular quarterly meeting today, the Board of Directors of BancorpSouth Bank (NYSE: BXS) (the company) declared a quarterly cash dividend of $0.20 per share of common stock. The common stock dividend is payable on January 3, 2022, to shareholders of record at the close of business on December 15, 2021. Subject to the satisfaction of customary closing conditions, the company expects to complete its pending merger with Cadence Bancorporation, the parent company of Cadence Bank N.A., effective October 29, 2021. Accordingly, legacy Cadence shareholders, who receive shares of company common stock in the merger and continue to hold such shares as of the record date, will be eligible to receive this dividend.

The board of directors also declared a quarterly cash dividend of $0.34375 per share of Series A Preferred Stock. The preferred stock dividend is payable on November 22, 2021, to shareholders of record at the close of business on November 5, 2021.

BancorpSouth earlier reported financial results for the third quarter of 2021. Net income available to common shareholders was $70.4 million, or $0.65 per diluted share, and net operating income available to common shareholders -- excluding MSR -- was $73.3 million, or $0.68 per diluted share.

About BancorpSouth Bank

BancorpSouth Bank (NYSE: BXS) is headquartered in Tupelo, Mississippi, with approximately $28 billion in assets. BancorpSouth operates approximately 315 full-service branch locations as well as additional mortgage, insurance, and loan production offices in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois. BancorpSouth is committed to a culture of respect, diversity, and inclusion in both its workplace and communities. To learn more, visit our Community Commitment page at www.bancorpsouth.com; "Like" us on Facebook; follow us on Twitter and Instagram: @MyBXS; or connect with us through LinkedIn.

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SOURCE BancorpSouth Bank

/CONTACT: John G. Copeland, Senior Executive Vice President and Chief Financial Officer, 662/680-2536; Will Fisackerly, Executive Vice President and Director of Corporate Finance, 662/680-2475

/Web site: http://www.bancorpsouth.com