Oconee Financial Corporation Announces Increase in Annual Dividend

Oconee Financial Corporation (OTCQX: OSBK) announced an annual cash dividend of $0.85 per share for 2023, reflecting a 21% increase from the previous $0.70.

Rhea-AI Summary

Oconee Financial Corporation (OTCQX: OSBK) announced an annual cash dividend of $0.85 per share for 2023, reflecting a 21% increase from the previous $0.70. This dividend is payable on April 3, 2023, to shareholders recorded as of March 15, 2023. CEO Neil Stevens attributed the dividend rise to improved earnings in 2022, showcasing the company’s financial strength. Headquartered in Watkinsville, Georgia, Oconee Financial operates multiple financial centers and has celebrated over 63 years of service as a locally owned community bank.

Positive

• 21% increase in annual dividend from $0.70 to $0.85 per share.
• Improvement in earnings for 2022 supporting dividend increase.
• Demonstrates overall financial strength of the company.

Negative

• None.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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WATKINSVILLE, Ga., Feb. 28, 2023 /PRNewswire/ -- Oconee Financial Corporation ("Oconee") (OTCQX: OSBK)  announced that the Company's Board of Directors approved an annual 2023 common stock cash dividend of $0.85 per share.

The annual common stock cash dividend is payable on April 3, 2023 to shareholders of record as of March 15, 2023.

Neil Stevens, President and CEO of Oconee Financial Corporation, noted "we are pleased to announce a 21% increase in our annual dividend from $0.70 per share to $0.85 per share. The increase in the dividend reflects our improvement in earnings for 2022, as well as our overall financial strength."

About Oconee Financial Corporation

Oconee Financial Corporation is headquartered in Watkinsville, Georgia and operates four full-service financial centers and one loan production office. In February 2023, Oconee State bank celebrated 63 years of service and continues to be the only locally owned and operated community bank headquartered in Oconee County. Oconee State Bank has proudly served the local community, providing an unparalleled commitment to personalized service, innovative products and solutions, and strives to bring exceptional value to our customers through local ownership, involvement, and decision-making. We continuously strive to create remarkable experiences that significantly mark the lives of others.

View original content:https://www.prnewswire.com/news-releases/oconee-financial-corporation-announces-increase-in-annual-dividend-301758537.html

SOURCE Oconee Financial Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the new dividend amount for Oconee Financial Corporation in 2023?

Oconee Financial Corporation announced a new dividend amount of $0.85 per share for 2023.

When is the dividend payout date for Oconee Financial Corporation?

The dividend payout date for Oconee Financial Corporation is April 3, 2023.

What is the record date for the 2023 dividend payment?

The record date for the 2023 dividend payment is March 15, 2023.

How much has Oconee Financial Corporation increased its dividend?

Oconee Financial Corporation increased its dividend by 21%, from $0.70 to $0.85 per share.

How many years has Oconee Financial Corporation been in service?

Oconee Financial Corporation has been in service for over 63 years.