Middlefield Banc Corp. Announces a 5% Increase in the 2025 First-Quarter Cash Dividend Payment

Rhea-AI Summary

Middlefield Banc Corp. (NASDAQ: MBCN) has announced a 5% increase in its quarterly cash dividend to $0.21 per common share for the first quarter of 2025. The dividend will be paid on March 14, 2025, to shareholders of record as of February 28, 2025.

According to President and CEO Ronald L. Zimmerly, Jr., this increase reflects the company's strong capital position and growing profitability. The company's regular dividend has shown significant growth, increasing by 47.4% from $0.57 per share in 2019 to a current annualized rate of $0.84, demonstrating the Board's commitment to returning excess capital to shareholders.

Positive

• 5% increase in quarterly dividend to $0.21 per share
• 47.4% dividend growth from 2019 to 2025
• Strong capital position indicated by management
• Expanding levels of profitability reported

Negative

• None.

MIDDLEFIELD, Ohio, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Middlefield Banc Corp. (NASDAQ: MBCN) today announced that its Board of Directors declared a quarterly cash dividend of $0.21 per common share, representing a 5% increase from the 2024 fourth quarter dividend. The 2025 first-quarter dividend is payable on March 14, 2025, to shareholders of record on February 28, 2025.

Ronald L. Zimmerly, Jr., President and Chief Executive Officer, stated, “The 5% increase in Middlefield’s dividend payment demonstrates our confidence in the future, as well as our strong capital position and expanding levels of profitability. Our regular dividend has increased 47.4% from $0.57 per share for the year ended December 31, 2019, to an annualized rate of $0.84 currently. This multi-year growth reflects our Board’s commitment to returning excess capital back to our shareholders.”

About Middlefield Banc Corp.
Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the Bank holding Company of The Middlefield Banking Company, with total assets of $1.85 billion at December 31, 2024. The Bank operates 21 full-service banking centers and an LPL Financial® brokerage office serving Ada, Beachwood, Bellefontaine, Chardon, Cortland, Dublin, Garrettsville, Kenton, Mantua, Marysville, Middlefield, Newbury, Orwell, Plain City, Powell, Solon, Sunbury, Twinsburg, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio.

Additional information is available at www.middlefieldbank.bank

This press release of Middlefield Banc Corp. and the reports Middlefield Banc Corp. files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Middlefield Banc Corp. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Middlefield Banc Corp.'s future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce interest margins; (3) changes in prepayment speeds, charge-offs and loan loss provisions; (4) less favorable than expected general economic conditions; (5) legislative or regulatory changes that may adversely affect businesses in which Middlefield Banc Corp. is engaged; (6) technological issues which may adversely affect Middlefield Banc Corp.'s financial operations or customers; (7) changes in the securities markets; or (8) risk factors mentioned in the reports and registration statements Middlefield Banc Corp. files with the Securities and Exchange Commission. Middlefield Banc Corp. undertakes no obligation to release revisions to these forward-looking statements or to reflect events or circumstances after the date of this press release.

Company Contact:	Investor and Media Contact:
Ron Zimmerly President and Chief Executive Officer Middlefield Banc Corp. (419) 673-1217 RZimmerly@middlefieldbank.com	Andrew M. Berger Managing Director SM Berger & Company, Inc. (216) 464-6400 andrew@smberger.com

FAQ

What is the new quarterly dividend amount for Middlefield Banc Corp (MBCN) in Q1 2025?

Middlefield Banc Corp's new quarterly dividend is $0.21 per common share for Q1 2025, representing a 5% increase from Q4 2024.

When will MBCN pay its Q1 2025 dividend?

The Q1 2025 dividend will be paid on March 14, 2025, to shareholders of record as of February 28, 2025.

How much has MBCN's dividend grown since 2019?

MBCN's regular dividend has increased by 47.4% from $0.57 per share in 2019 to an annualized rate of $0.84 in 2025.

What is the annual dividend rate for MBCN in 2025?

Based on the new quarterly dividend of $0.21 per share, MBCN's annualized dividend rate for 2025 is $0.84 per share.