Commerce increases dividend

The board of directors of Commerce Bancshares Inc. declared a quarterly dividend of 16.25 cents per share on the company's common stock, according to a Feb. 1 Commerce Bancshares news re-lease. That amount represents a 6.6 percent increase compared to the prior 16-cent dividend per share, when adjusted for the 5 percent stock dividend paid Dec. 14, 2001.

This is the 34th consecutive year Com-merce has increased total dividends per share. The dividend is payable March 28 to shareholders of record at the close of business March 8.

The board also approved the additional purchase of up to 1,478,763 shares of company stock. The additional purchase authorization, coupled with the remaining shares to be purchased under the prior authorization, will allow Com-merce to repurchase 3 million shares.

Commerce Bancshares Inc. operates approximately 340 locations in Missouri, Illinois and Kansas.