BayCom Corp (NASDAQ: BCML) (“BayCom” or the “Company”), the parent company of United Business Bank, today announced that its Board of Directors declared a quarterly cash dividend of $.05 per share on the Company's outstanding common stock. The cash dividend will be payable on April 15, 2022 to shareholders of record as of the close of business on March 11, 2022.
"We are pleased with the payment of this initial cash dividend to our shareholders," said George Guarini, President and Chief Executive Officer of the Company. "The payment represents the first time in the Company’s history that we have declared a dividend. This represents our long-term commitment to enhancing shareholder value, and based on our confidence in the strength of our Company and expected cash generation, we intend to continue paying a similar quarterly dividend in the future."
This press release contains statements that the Company believes are "forward-looking statements." These statements relate to the Company's financial condition, results of operations, plans, objectives, future performance or business and ability to continue paying dividends. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, and actual results and performance in future periods may be materially different from any future results or performance suggested by the forward-looking statements in this release. Factors that might cause such differences include, but are not limited to, those identified in our risk factors contained in BayCom's Annual Report on Form 10-K for the year ended December 31, 2020. Such forward-looking statements speak only as of the date of this release. BayCom expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in the Company's expectations of results or any change in events.
Keary Colwell, 925-476-1800