Lake City Bank Parent Announces 4% Increase in Quarterly Dividend
Lakeland Financial (LKFN), parent company of Lake City Bank, has announced a 4% increase in its quarterly dividend to $0.50 per share, up from $0.48 in 2024.
Sentiment and the balance of points
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Rhea-AI Summary
Lakeland Financial (LKFN), parent company of Lake City Bank, has announced a 4% increase in its quarterly dividend to $0.50 per share, up from $0.48 in 2024. The dividend will be payable on February 5, 2025, to shareholders of record as of January 25, 2025.
The company highlighted its impressive 11% compound annual growth rate in dividends over the past five years. Lake City Bank, founded in 1872, operates 54 branch offices throughout Central and Northern Indiana, with assets of $6.7 billion. The bank emphasizes building long-term customer relationships while offering advanced digital banking solutions for both retail and commercial clients.
Positive
- 4% increase in quarterly dividend to $0.50 per share
- 11% compound annual dividend growth rate over past 5 years
- Strong capital position supporting organic loan growth
- $6.7 billion in total assets
Negative
- None.
Details
News Market Reaction – LKFN
The recorded move for LKFN in the trading session of this news was +3.50%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
WARSAW, Ind., Jan. 14, 2025 (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 first quarter of 2025 of
“We are pleased to announce another increase to our common stock dividend. Our compounded annual growth rate has been
Lake City Bank, a
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 the effects of the COVID-19 pandemic, including its effects on our customers, local economic conditions, our operations and vendors, and the responses of federal, state and local governmental authorities, as well as 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 reports on Form 10-Q.
Contact
Lisa M. O’Neill
Executive Vice President and Chief Financial Officer
(574) 267-9125
lisa.oneill@lakecitybank.com
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