International Bancshares (IBOC) in Laredo, Texas, is declaring a dividend and buying back shares.
The $12.1 billion-asset company said on Monday that it will pay 20 cents a share on April 19 to shareholders who own its stock at the close of business on April 1.
"It is the inclination of the Board to continue to declare semiannual cash dividends," depending on the company's financial position, plans and business conditions, International said in a news release.
International also will repurchase as much as $40 million of its common stock over twelve months starting April 9, its fourth buyback in as many years. International has repurchased roughly $23.8 million in common stock since 2009.
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