East West Bancorp: 2023 net income $1.2 billion, EPS $8.18; quarterly dividend up 15%
East West Bancorp reported full-year 2023 net income of $1.2 billion, or $8.18 per diluted share, both up 3% from 2022, while revenue rose 11% to $2.6 billion. Excluding a $70 million pre-tax FDIC special assessment charge and other items, adjusted diluted EPS was $8.56. The board declared a 15% increase in the quarterly common dividend to $0.55 per share, which matters to shareholders as a direct cash return.
- Full-year 2023 net income was $1.2 billion, or $8.18 per diluted share, up 3% year-over-year; adjusted diluted EPS was $8.56.
- Full-year 2023 revenue was $2.6 billion, up $263 million, or 11%.
- Fourth-quarter 2023 net income was $239 million, or $1.69 per diluted share.
- Quarterly dividend rises to $0.55 per share from $0.48, payable February 15, 2024, to holders of record on February 2, 2024.