PB Financial Corporation Declares First-Quarter, 2024 Dividend
PB Financial Corporation (PBNC) announced a 30% increase in their quarterly cash dividend to $0.52 per share, representing a $2.08 annual dividend and a 4.97% yield. The company has consistently increased its cash dividend every quarter since 2012, reflecting strong financial performance. With total assets of $982.4 million, loans of $827.8 million, and total deposits of $803.5 million as of December 31, 2023, PB Financial Corporation is focused on enhancing shareholder value.
01/29/2024 - 11:30 AM
ROCKY MOUNT, NC / ACCESSWIRE / January 29, 2024 / Ted E. Whitehurst, President and CEO of PB Financial Corporation (OTCQX:PBNC), the holding company for Providence Bank, announced today the Board of Directors approved a quarterly cash dividend of $0.52 per share on common stock outstanding to shareholders of record at the close of business on February 6, 2024. The dividend is payable February 22, 2024. This is an increase of 30% from the dividend paid during the 1st quarter of 2023. This represents a $2.08 dividend on an annual basis and a yield of 4.97% (based on closing price on January 26, 2024, of $41.89 /share).
Whitehurst commented, "This represents our 49th consecutive quarterly cash dividend. The Company's consistent financial performance has allowed us to increase our cash dividend every quarter since we began paying dividends in the 1st quarter of 2012. This continued increase in our cash dividend is an important part of our long-term strategy to enhance shareholder value."
PB Financial Corporation is headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina, with branches in Rocky Mount, Tarboro, Nashville, Wilson and Raleigh. As of December 31, 2023, PB Financial Corporation had total assets of $982.4 million , loans of $827.8 million and total deposits of $803.5 million .
www.pbknc.com
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding PB Financial Corporation. Those statements may include but are not limited to statements regarding the Company's plans, objectives, expectations and intentions and other statements identified by words such as "believes," "considers," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects," "would be," and similar expressions. These statements are based upon current beliefs and expectations of management of PB Financial Corporation and are subject to significant risks and uncertainties. Actual or future results or events may differ from those set forth in the forward-looking statements. PB Financial Corporation does not undertake to update any forward-looking statements in this press release. The information as of and for the quarter ended December 31, 2023 as presented is unaudited.
For more information, contact:
Ted E. Whitehurst, President and CEOtwhitehurst@pbknc.com
SOURCE: PB Financial Corporation
press release on accesswire.com
What is the quarterly cash dividend approved by PB Financial Corporation (PBNC)?
The Board of Directors approved a quarterly cash dividend of $0.52 per share on common stock outstanding.
What is the annual dividend and yield based on the closing price on January 26, 2024?
The annual dividend is $2.08 and the yield is 4.97%.
How does PB Financial Corporation's financial performance reflect its dividend strategy?
The company has consistently increased its cash dividend every quarter since 2012, indicating strong financial performance.
What were PB Financial Corporation's total assets, loans, and total deposits as of December 31, 2023?
As of December 31, 2023, PB Financial Corporation had total assets of $982.4 million, loans of $827.8 million, and total deposits of $803.5 million.
