Oconee Financial Corporation Announces Increase in Annual Dividend

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Oconee Financial Corporation (OSBK) announces a 12% increase in its annual common stock cash dividend to $0.95 per share for 2024, payable on April 1, 2024. The dividend increase is attributed to the company's improved earnings in 2023 and overall financial strength.

WATKINSVILLE, Ga., Feb. 26, 2024 /PRNewswire/ -- Oconee Financial Corporation ("Oconee") (OTCQX: OSBK) announced that the Company's Board of Directors approved an annual 2024 common stock cash dividend of $0.95 per share.

The annual common stock cash dividend is payable on April 1, 2024 to shareholders of record as of March 15, 2024.

Neil Stevens, President and CEO of Oconee Financial Corporation, noted "we are pleased to announce a 12% increase in our annual dividend from $0.85 per share to $0.95 per share. The increase in the dividend reflects our improvement in earnings for 2023, as well as our overall financial strength."

About Oconee Financial Corporation

Oconee Financial Corporation is headquartered in Watkinsville, Georgia and operates six full-service financial centers in Georgia, located in Oconee, Athens-Clarke, Gwinnett, Macon-Bibb and Elbert counties. In February 2024, Oconee State Bank celebrated 64 years of service and continues to be the only locally owned and operated community bank headquartered in Oconee County. Oconee State Bank proudly serves its communities, providing unparalleled commitment to personalized service and innovative products and solutions. Oconee State Bank seeks to bring exceptional value to all stakeholders, through local ownership, involvement, and decision making. The bank strives to be essential to those it serves, by creating remarkable experiences that significantly mark the lives of others. Oconee Financial Corporation was established in January 1999 to serve as the holding company of Oconee State Bank.

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SOURCE Oconee Financial Corporation

FAQ

What is the annual common stock cash dividend announced by Oconee Financial Corporation (OSBK) for 2024?

Oconee Financial Corporation (OSBK) announced an annual common stock cash dividend of $0.95 per share for 2024.

When will the annual common stock cash dividend be payable to shareholders?

The annual common stock cash dividend will be payable on April 1, 2024, to shareholders of record as of March 15, 2024.

What is the percentage increase in the annual dividend declared by Oconee Financial Corporation (OSBK) for 2024?

Oconee Financial Corporation (OSBK) declared a 12% increase in the annual dividend from $0.85 per share to $0.95 per share for 2024.

What factors contributed to the increase in the annual dividend by Oconee Financial Corporation (OSBK) for 2024?

The increase in the annual dividend by Oconee Financial Corporation (OSBK) for 2024 is attributed to the company's improved earnings in 2023 and overall financial strength.