Community Bancorp announces share repurchase plan and cash dividends distribution

Noozhawk is a platform dedicated to providing Santa Barbara County news for free, without any paywalls or subscriptions. The Board of Directors for Community Bancorp of Santa Maria recently announced two financial initiatives – a share repurchase program and an annual cash dividend of 30 cents per share.

The share repurchase program allows the company to buy back up to 109,895 shares of its common stock, equating to approximately 5% of its outstanding shares at the time of the announcement. This strategic move aims to enhance shareholder value and demonstrate confidence in the company’s direction. The annual cash dividend of 30 cents per share is a 20% increase compared to the previous year’s dividend. Shareholders of record on June 30, 2025, will receive this dividend on July 8, 2025.

Janet Silveria, the President/CEO of Community Bancorp, expressed that the decisions regarding the share repurchase program and increased dividend highlight the board and management’s belief in the company’s long-term strategy. She emphasized that these actions are possible due to the company’s prudent approach to capital allocation and consistent financial performance.

The repurchase program allows for shares to be repurchased through various means, including open market transactions, private transactions, block trades, and trading plans compliant with SEC regulations. It is set to expire on December 31, 2025, with flexibility for suspension, termination, or modification based on market conditions, investment opportunities, liquidity, and other relevant factors. The company is not obligated to buy back any specific number of shares, and the timing and quantity of repurchases will be influenced by various considerations.

Overall, the share repurchase plan and increased dividend by Community Bancorp of Santa Maria reflect a commitment to maximizing long-term shareholder value through sound financial decisions and strategic planning. The company’s clear focus on delivering results and creating value for its shareholders demonstrates a dedication to maintaining a strong position in the market and fostering long-term success.