RICHMOND MUTUAL BANCORPORATION, INC. ANNOUNCES QUARTERLY DIVIDEND

Rhea-AI Summary

Richmond Mutual Bancorporation announced a quarterly cash dividend of $0.14 per share, payable on June 13, 2024, to shareholders of record by May 30, 2024. This announcement reflects the company's continued commitment to returning value to its shareholders.

Positive

• Announced a quarterly cash dividend of $0.14 per share.
• Dividend payable on June 13, 2024.
• Reflects commitment to returning value to shareholders.

Negative

• Dividend rate of $0.14 per share may not meet some investors' expectations for higher returns.

RICHMOND, Ind., May 16, 2024 /PRNewswire/ -- Richmond Mutual Bancorporation, Inc. (NASDAQ: RMBI) announced today that its Board of Directors has declared a cash dividend on Richmond Mutual Bancorporation common stock of $0.14 per share. The cash dividend will be payable on June 13, 2024, to stockholders of record as of the close of business on May 30, 2024. 

About Richmond Mutual Bancorporation, Inc.

Richmond Mutual Bancorporation, Inc., headquartered in Richmond, Indiana, is the holding company for First Bank Richmond, a community-oriented financial institution offering traditional financial and trust services within its local communities through its eight locations in Richmond, Centerville, Cambridge City and Shelbyville, Indiana, its five locations in Sidney, Piqua and Troy, Ohio and its loan production office in Columbus, Ohio.

Forward-Looking Statements

Statements in this press release that are not historical facts may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to Richmond Mutual Bancorporation, Inc.'s (the "Company") financial condition, results of operations, plans, objectives, future performance or business and ability to continue paying dividends. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words or phrases "may," "believe," "will," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "plans," "potential," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, but the absence of these words does not mean that a statement is not forward-looking. By their nature, forward-looking statements involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this release. These risks include the future earnings and capital levels of First Bank Richmond, which could affect the ability of the Company to pay dividends in accordance with its dividend policies, general economic conditions as well as those within our industry, and numerous other factors identified in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other reports filed with or furnished to the Securities and Exchange Commission – which are available at www.firstbankrichmond.com in the "Investor Relations" section and on the SEC's website at www.sec.gov.

The Company does not undertake - and specifically declines any obligation - to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

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SOURCE Richmond Mutual Bancorporation, Inc.

FAQ

When is the dividend payment date for RMBI?

The dividend payment date for RMBI is June 13, 2024.

What is the dividend amount declared by Richmond Mutual Bancorporation?

The declared dividend amount is $0.14 per share.

Who is eligible to receive the RMBI dividend?

Shareholders of record by the close of business on May 30, 2024, are eligible to receive the dividend.

What is the stock symbol for Richmond Mutual Bancorporation?

The stock symbol for Richmond Mutual Bancorporation is RMBI.