CNB Financial Corporation Announces Quarterly Dividend for Series A Preferred Stock and Related Depositary Shares Distribution

Rhea-AI Summary

The Board of Directors of CNB Financial Corporation (Nasdaq: CCNE) declared a quarterly cash dividend of $0.4453125 per depositary share, correlating to a $17.8125 dividend per share on its Series A Preferred Stock. This dividend is scheduled for payment on September 1, 2022, for shareholders on record as of August 18, 2022. CNB Financial Corporation, a financial holding company with approximately $5.3 billion in consolidated assets, operates CNB Bank, providing various banking services across several states.

Positive

• Quarterly cash dividend of $0.4453125 per depositary share enhances shareholder income.
• Company demonstrates confidence with a sizable dividend payment amidst $5.3 billion in assets.

Negative

• None.

News Market Reaction – CCNE

+1.59%

1 alert

+1.59% News Effect

On the day this news was published, CCNE gained 1.59%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

CLEARFIELD, Pa., Aug. 04, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of CNB Financial Corporation (Nasdaq: CCNE) (the "Corporation") has announced the declaration of a quarterly cash dividend of $0.4453125 per depositary share, resulting from the Corporation’s declaration of a quarterly cash dividend of $17.8125 per share on its Series A Preferred Stock. The dividend is payable on September 1, 2022, for holders of record as of August 18, 2022.

CNB Financial Corporation is a financial holding company with consolidated assets of approximately $5.3 billion. CNB Financial Corporation conducts business primarily through its principal subsidiary, CNB Bank. CNB Bank is a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and institutional customers. CNB Bank operations include a private banking division, three loan production offices, one drive-up office and 46 full-service offices in Pennsylvania, Ohio, New York and Virginia. CNB Bank’s divisions include ERIEBANK, based in Erie, Pennsylvania, with offices Northwest Pennsylvania and Northeast Ohio; FCBank, based in Worthington, Ohio, with offices in Central Ohio; BankOnBuffalo, based in Buffalo, New York, with offices in Western New York; and Ridge View Bank, with offices in the Southwest Virginia region. CNB Bank is headquartered in Clearfield, Pennsylvania, with offices in Central and North Central Pennsylvania. Additional information about CNB Financial Corporation may be found at www.CNBBank.bank.

FAQ

What is the dividend amount declared by CNB Financial Corporation for Q3 2022?

CNB Financial Corporation declared a dividend of $0.4453125 per depositary share.

When will the dividend for CNB Financial Corporation be paid?

The dividend will be payable on September 1, 2022.

What is the record date for the CNB Financial Corporation dividend?

The record date for the dividend is August 18, 2022.

What is CNB Financial Corporation's stock symbol?

The stock symbol for CNB Financial Corporation is CCNE.

What are the total assets held by CNB Financial Corporation?

CNB Financial Corporation has approximately $5.3 billion in consolidated assets.