KANSAS CITY, Mo.--(BUSINESS WIRE)--Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors approved a 5 percent common stock dividend payable on December 14, 2015 to shareholders of record at the close of business on November 27, 2015. Shares issued as a result of the stock dividend will be entered by Direct Registration System on the records of the Company’s transfer agent, Computershare, and statements reflecting the issuance will be mailed on or about December 14, 2015. No fractional shares will be issued and shareholders will receive cash for such fractional interests based on the market value of the stock on the record date.
The Board of Directors also declared a quarterly dividend of $0.225 per share on the Company's common stock payable December 14, 2015, to stockholders of record at the close of business on November 27, 2015 (the dividend will not be payable on any shares to be issued pursuant to the 5% stock dividend), and a quarterly dividend of $0.3750 per depositary share on the Company’s Series B non-cumulative perpetual preferred stock (NASDAQ: CBSHP) payable December 1, 2015, to stockholders of record at the close of business on November 13, 2015.
About Commerce Bancshares, Inc.
Commerce Bancshares, Inc. (NASDAQ: CBSH), is a regional bank holding company with $24.0 billion in assets, as of September 30, 2015. For 150 years, Commerce Bank, a subsidiary of Commerce Bancshares, Inc., has been meeting the financial services needs of individuals and businesses. Commerce provides a full range of financial products to consumer and commercial customers, including personal banking, lending, wealth management, brokerage and capital markets services. Commerce operates in more than 350 locations in the central United States and has a nationwide presence in the commercial payments industry. Commerce Bancshares also has operating subsidiaries involved in mortgage banking, leasing, credit-related insurance, and private equity activities.
For additional information, please visit www.commercebank.com.