BayCom Rewards Shareholders With 50% Quarterly Dividend Hike

Core Viewpoint - BayCom Corp (BCML) has announced a 50% increase in its quarterly cash dividend to 15 cents per share, reflecting the company's commitment to enhancing shareholder wealth [1][2]. Group 1: Dividend and Share Repurchase - The new dividend will be paid on January 10, 2025, to shareholders of record on December 12, 2024 [1]. - BayCom has an ongoing share repurchase program, with 465,598 shares remaining as of September 30, 2024, indicating operational strength [2]. Group 2: Financial Performance - As of September 30, 2024, BayCom reported total debt of $72.3 million and cash and cash equivalents of$301.3 million, showcasing a solid balance sheet [3]. - The company has experienced earnings growth of 6.1% over the past five years, suggesting strong financial health [3]. Group 3: Growth Strategy - BayCom has pursued growth through strategic acquisitions, completing 10 since 2010, with total assets of nearly $2.56 billion and total deposits of approximately$2.14 billion [4]. - The opening of a new branch in Las Vegas aims to expand the company's regional footprint and support deposit and loan growth [4][5]. Group 4: Market Performance - Over the past six months, BayCom's shares have increased by 34.7%, slightly below the industry average rise of 38.7% [6].