Independent Bank Corporation Announces Quarterly Cash Dividend on Common Stock

Rhea-AI Summary

Independent Bank Corporation (NASDAQ: IBCP), based in Michigan, announced a quarterly cash dividend of 21 cents per share, payable on May 14, 2021, to shareholders on record as of May 5, 2021. The bank, founded in 1864, has total assets of approximately $4.2 billion and offers a variety of financial services, including commercial banking and mortgage lending. This dividend declaration reflects the company’s commitment to delivering shareholder value.

Positive

• Declaration of a quarterly cash dividend of 21 cents per share, demonstrating confidence in financial health.
• Total assets approximately $4.2 billion indicate a stable banking operation.

Negative

• None.

News Market Reaction – IBCP

-3.58%

-3.58% Session move

In the trading session that priced this news, IBCP declined 3.58%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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GRAND RAPIDS, Mich., April 20, 2021 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock of 21 cents per share. This dividend is payable on May 14, 2021 to shareholders of record on May 5, 2021.

About Independent Bank Corporation

Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $4.2 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan's Lower Peninsula through one state-chartered bank subsidiary. This subsidiary (Independent Bank) provides a full range of financial services, including commercial banking, mortgage lending, investments and insurance services. Independent Bank Corporation is committed to providing exceptional personal service and value to its customers, stockholders and the communities it serves.

For more information, please visit our Web site at: IndependentBank.com.

Contact:        

William B. Kessel, President and CEO, 616.447.3933
Gavin A. Mohr, Chief Financial Officer, 616.447.3929