San Rafael-based Westamerica Bancorporation has declared a quarterly cash dividend of 36 cents per share on common stock outstanding to shareholders of record at the close of business on Aug. 2. The dividend is payable Aug. 13.

"This dividend recognizes Westamerica's healthy level of capital, stable asset quality and strong operating earnings," said David Payne, Westamerica's chief executive.

On July 13, Westamerica reported $24 million in net income for the three months ended June 30, or 80 cents diluted earnings per common share. Its second-quarter net income rose 7 percent - despite lower lending and fee revenue - because its rate of uncollectable loans dropped.

Westamerica Bancorporation, through its wholly owned subsidiary Westamerica Bank, operates banking and trust offices throughout Northern and Central California.

Contact Richard Halstead via e-mail at rhalstead@marinij.com

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