Lake City Bank Parent Announces 13% Increase in Quarterly Dividend
On January 13, 2021, Lakeland Financial Corporation (LKFN) announced a quarterly cash dividend of $0.34 per share for Q4 2020, reflecting a 13% increase over previous quarters.
Sentiment and the balance of points
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Rhea-AI Summary
On January 13, 2021, Lakeland Financial Corporation (LKFN) announced a quarterly cash dividend of $0.34 per share for Q4 2020, reflecting a 13% increase over previous quarters. The dividend will be paid on February 5, 2021, to shareholders on record as of January 25, 2021. President and CEO David M. Findlay emphasized the company's strong capital position as a foundation for this increase. Lakeland Financial operates Lake City Bank, the largest bank solely invested in Indiana, with 50 offices across the state.
Positive
- Quarterly cash dividend increased by 13% to $0.34 per share.
- Strong capital position supports dividend increase.
- Company operates 50 offices, enhancing market presence.
Negative
- None.
Details
News Market Reaction – LKFN
The recorded move for LKFN in the trading session of this news was -0.22%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
WARSAW, Ind., Jan. 13, 2021 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, announced that the Board of Directors approved a quarterly cash dividend for the fourth quarter of 2020 of
“Our continued strong capital position provides the foundation for increasing our dividend. As we enter 2021, this strong capital position supports this healthy
Lakeland Financial Corporation is a
Information regarding Lakeland Financial Corporation may be accessed on the home page of its subsidiary, Lake City Bank, at lakecitybank.com. The company’s common stock is traded on the Nasdaq Global Select Market under “LKFN.”
This document contains, and future oral and written statements of the company and its management may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of the company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “continue,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should” or other similar expressions. The company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain and, accordingly, the reader is cautioned not to place undue reliance on any forward-looking statements made by the company. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the company undertakes no obligation to update any statement in light of new information or future events. Numerous factors could cause the company’s actual results to differ from those reflected in forward-looking statements, including trade policies and those identified in the company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K and Quarterly Report on Form 10-Q.
Contact
Lisa M. O’Neill
Executive Vice President and Chief Financial Officer
(574) 267-9125 office
lisa.oneill@lakecitybank.com
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