SWS Group, Inc. Board Declares Cash Dividend of 1 Cent per Share Payable January 3, 2011
DALLAS, Nov. 18, 2010 /PRNewswire-FirstCall/ -- The Board of Directors of SWS Group, Inc. (NYSE: SWS) declared a quarterly cash dividend of 1 cent per share at its meeting Thursday, November 18, 2010. The board chose to reduce the quarterly dividend by 8 cents from the previous dividend of 9 cents per share declared on August 18, 2010.
The dividend will be payable on January 3, 2011 to common shareholders of record as of December 15, 2010.
"After careful consideration, the board of directors decided a quarterly dividend of 1 cent per share was prudent given the continuing challenges presented by current economic conditions and the importance of preserving capital," said SWS Group Chairman Don A. Buchholz. "We are committed to maintaining strong levels of net capital at our brokerage and banking subsidiaries as we reposition the bank's balance sheet and pursue opportunities to grow our brokerage business."
SWS Group, Inc. has paid a cash dividend every quarter since becoming a public company. The cash dividend declared Thursday will be the company's 77th consecutive quarterly dividend.
SWS Group, Inc. is a Dallas-based financial services company offering a broad range of services through its subsidiaries – Southwest Securities, Inc., Southwest Securities, FSB and SWS Financial Services, Inc. The company's common stock is listed and traded on the New York Stock Exchange under the symbol SWS.
SOURCE SWS Group, Inc.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article