City Holding Company, “the Company” (NASDAQ: CHCO), a $3.5 billion bank
holding company headquartered in Charleston, yesterday declared a
dividend of 42 cents per common share for shareholders of record as of
April 15, 2015. The dividend is payable on April 30, 2015. The dividend
represents a 5% increase from the 40 cents per share cash dividend paid
in the first quarter of 2015 and follows an 8% increase in the cash
dividend, from 37 cents per common share to 40 cents, approved by the
board in March 2014.
“I am very pleased with the Board's decision to once again increase the
quarterly cash dividend” stated Charles (Skip) Hageboeck, President and
CEO. “This increase reaffirms the Company's commitment of returning
value to its shareholders. The decision to increase the dividend to
$1.68 on an annualized basis is based on the Company's current strong
capital and liquidity position, our outstanding financial performance
during 2014, and our confidence in the Company's ability to sustain this
performance.”
City Holding Company is the parent company of City National Bank of West
Virginia. City National operates 82 branches across West Virginia,
Virginia, Kentucky, and Ohio. The Company’s stock is traded on the
NASDAQ Global Select Market under the quotation symbol “CHCO”.
Forward-Looking Information
This news release contains certain forward-looking statements that
are included pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such information
involves risks and uncertainties that could result in the Company's
actual results differing materially from those projected in the
forward-looking statements. Important factors that could cause actual
results to differ materially from those discussed in such
forward-looking statements include, but are not limited to, (1) the
Company may incur additional loan loss provision due to negative credit
quality trends in the future that may lead to a deterioration of asset
quality; (2) the Company may incur increased charge-offs in the future;
(3) the Company could have adverse legal actions of a material nature;
(4) the Company may face competitive loss of customers; (5) the Company
may be unable to manage its expense levels; (6) the Company may have
difficulty retaining key employees; (7) changes in the interest rate
environment may have results on the Company’s operations materially
different from those anticipated by the Company’s market risk management
functions; (8) changes in general economic conditions and increased
competition could adversely affect the Company’s operating results; (9)
changes in other regulations and government policies affecting bank
holding companies and their subsidiaries, including changes in monetary
policies, could negatively impact the Company’s operating results; (10)
the Company may experience difficulties growing loan and deposit
balances; (11) the current economic environment poses significant
challenges for the Company and could adversely affect the Company’s financial
condition and results of operations; (12) deterioration in the financial
condition of the U.S. banking system may impact the valuations of
investments the Company has made in the securities of other financial
institutions resulting in either actual losses or other than temporary
impairments on such investments; (13) the effects of the Wall
Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) and the
regulations promulgated and to be promulgated thereunder, which may
subject the Company and its subsidiaries to a variety of new and more
stringent legal and regulatory requirements which adversely affect their
respective businesses; (14) the impact of new minimum capital thresholds
established as a part of the implementation of Basel III; and (15) other
risk factors relating to the banking industry or the Company as detailed
from time to time in the Company’s reports filed with the Securities and
Exchange Commission, including those risk factors included in the
disclosures under the heading “ITEM 1A Risk Factors” of the Company’s
Annual Report on Form 10-K for the fiscal year ended December 31, 2014.
Forward-looking statements made herein reflect management's
expectations as of the date such statements are made. Such information
is provided to assist stockholders and potential investors in
understanding current and anticipated financial operations of the
Company and is included pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. The Company undertakes
no obligation to update any forward-looking statement to reflect events
or circumstances that arise after the date such statements are made.
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