SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
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PURSUANT TO SECTION 13 OR 15 (D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 7, 1999
INTERNATIONAL BANCSHARES CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Commission File Number 0-9439
TEXAS 74-2157138
(State or other Jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
1200 SAN BERNARDO, LAREDO, TEXAS 78040-1359
(Address of principal executive offices) (ZIP Code)
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE) (956) 722-7611
NONE
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On April 7, 1999, International Bancshares Corporation issued a news
release announcing the declaration of a 25 percent stock split-up effected
through a stock dividend to all holders of record of common stock, $1.00 par
value, on May 20, 1999, to be issued on June 11, 1999. The news release,
attached hereto and filed herewith as Exhibit 99, is incorporated herein by
reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
c. Exhibits
The following exhibit is filed as part of this report:
(99) News release of International Bancshares Corporation dated
April 7, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
INTERNATIONAL BANCSHARES CORPORATION
(Registrant)
By:/s/ DENNIS E. NIXON
DENNIS E. NIXON, President,
and Chief Executive Officer
Date: April 7, 1999
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<PAGE>
EXHIBIT INDEX
EXHIBIT PAGE
NUMBER DESCRIPTION NUMBER
- ------- --------------------------------- ------
99 News Release of International 5
Bancshares Corporation dated April
7, 1999.
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EXHIBIT 99
FOR IMMEDIATE RELEASE Contact: Dennis E. Nixon
(956)722-7611 (Laredo)
Katie Brickman
(210) 826-8899 (San Antonio)
INTERNATIONAL BANCSHARES CORPORATION ANNOUNCES
STOCK DIVIDEND
LAREDO, TX,.....April 7, 1999......International Bancshares Corporation (IBC)
today announced that on April 1, 1999, the Board of Directors approved a 25
percent stock split-up effected through a stock dividend to all holders of
record of common stock, $1.00 par value, on May 20, 1999, to be issued on June
11, 1999. "The Board of Directors believe that stock dividends will provide
additional incentive for shareholders to hold the IBC stock," said Dennis E.
Nixon, Chairman of the Board and Chief Executive Officer.
On March 23, 1999, IBC announced a cash dividend on its outstanding shares of
common stock of $.60 per share for shareholders of record as of March 31, 1999,
payable on April 15, 1999. The cash dividend represents a 50 percent increase in
the dividend rate of $.40 per share that was paid October 15, 1998. Nixon
commented that the Board of Directors voted to increase the dividend rate
because of the continued success of IBC, and their desire to recognize the
support IBC shareholders have given the Company. "The directors believe that
cash dividends will enhance the value of each IBC share," Nixon said.
IBC (NASDAQ: IBOC) is a $4.9 billion multi-bank holding company headquartered in
Laredo, Texas, with 93 main bank and branch facilities and 164 ATM's serving 28
communities, including San Antonio, Houston, Corpus Christi, McAllen,
Brownsville, Port Lavaca, Zapata and cities throughout the Rio Grande Valley and
the Texas Gulf Coast.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release which are not historical facts
contain forward looking information with respect to plans, projections or future
performance of IBC and its subsidiaries, the occurrence of which involve certain
risks and uncertainties detailed in IBC's filings with the Securities and
Exchange Commission.
Copies of IBC's SEC filings and Annual Report (as an exhibit to the 10-K) may be
downloaded from the Internet at no charge from FreeEDGAR, a real-time access to
SEC filings site located at HTTP://WWW.FREEEEDGAR.COM.
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