Commerce Bancshares, Inc. Declares Special Dividend of $1.50 Per Share Along With Normal Quarterly Dividends and 5% Stock

  Commerce Bancshares, Inc. Declares Special Dividend of $1.50 Per Share Along
  With Normal Quarterly Dividends and 5% Stock Dividend

Business Wire

KANSAS CITY, Mo. -- November 02, 2012

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of
Directors approved a 5 percent stock dividend payable on December 17, 2012 to
shareholders of record at the close of business on November 30, 2012. Shares
issued as a result of the stock dividend will be entered by Direct
Registration System on the records of the company’s transfer agent. No
fractional shares will be issued and shareholders will receive cash for such
fractional interests based on the market value of the stock on the record
date.

Also today the Board of Directors approved a regular quarterly dividend of
$0.23 per share on the company’s common stock and also authorized a special
cash dividend of $1.50 per share. “Given the potential significant increases
in tax rates on dividends beginning next year, and our strong levels of
capital, it is an opportune time to provide this special dividend distribution
to our shareholders before the end of the year,” David W. Kemper, chairman and
CEO, said. "After this special dividend, our capital ratios will continue to
be very strong, and together with our ongoing earnings power, we will have
ample capital to support organic balance sheet growth and continue our stock
buyback program and regular dividend practices, along with expansion through
acquisition should opportunities arise.”

Both dividend payments will be payable December 17 to stockholders of record
at the close of business on November 30, 2012. The dividend will not be
payable on any shares to be issued pursuant to the 5% stock dividend also
declared on this date.

About Commerce Bancshares, Inc.

Commerce Bancshares Inc. (NASDAQ: CBSH) is a $20.9 billion regional bank
holding company. For more than 140 years, Commerce has been meeting the
financial services needs of individuals and businesses. Commerce provides a
diversified line of financial services, including business and personal
banking, wealth management, financial planning, and investments through its
affiliated companies. Commerce operates in the Midwest, primarily in Missouri,
Kansas, Illinois, Oklahoma and Colorado with more than 360 locations and also
has operating subsidiaries involved in mortgage banking, credit related
insurance, venture capital and real estate activities.

Contact:

Commerce Bancshares, Inc.
Jeffery D. Aberdeen, 816-234-2081
Controller
www.commercebank.com
mymoney@commercebank.com
 
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