Summit Financial Group, Inc. Announces Q1 Common Dividend of $0.20 per Share

Rhea-AI Summary

Summit Financial Group, Inc. (NASDAQ: SMMF) has declared a first quarter 2023 dividend of $0.20 per share. This dividend is payable on March 31, 2023, to shareholders on record as of March 15, 2023. Summit, a financial holding company with assets totaling $3.9 billion, operates through Summit Community Bank, providing a range of services including commercial lending and retail banking across West Virginia, Virginia, Kentucky, and the D.C. area. The company's strategic focus on in-market lending and efficient operations supports its growth and market positioning.

Positive

• Declared a $0.20 per share dividend, indicating a return of income to shareholders.
• Solid asset base of $3.9 billion enhances company stability and investor confidence.

Negative

• None.

News Market Reaction

-0.70%

1 alert

-0.70% News Effect

On the day this news was published, SMMF declined 0.70%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MOOREFIELD, W.Va., Feb. 24, 2023 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (“Summit”) (NASDAQ: SMMF) announces its Board of Directors recently declared a first quarter 2023 dividend of $0.20 per share payable on March 31, 2023 to common shareholders of record as of the close of business on March 15, 2023.

Summit Financial Group, Inc. is the $3.9 billion financial holding company for Summit Community Bank, Inc. Its talented bankers serve commercial and individual clients throughout West Virginia, the Washington, D.C. metropolitan area, Virginia, and Kentucky. Summit’s focus on in-market commercial lending and providing other business banking services in dynamic markets is designed to leverage its highly efficient operations and core deposits in strong legacy locations. Residential and consumer lending, trust and wealth management, and other retail financial services are offered through convenient digital and mobile banking platforms, including MySummit.bank, and 44 full-service branch locations. More information on Summit Financial Group, Inc. (NASDAQ: SMMF), headquartered in West Virginia’s Eastern Panhandle in Moorefield, is available at SummitFGI.com.

Contact:	Teresa Ely, Director of Shareholder Relations
Telephone:	(304) 530-0526
Email:	tely@summitfgi.com

FAQ

What is the dividend amount declared by Summit Financial Group for Q1 2023?

The dividend amount declared is $0.20 per share.

When will the dividend for Summit Financial Group be paid?

The dividend will be paid on March 31, 2023.

What is the record date for the dividend by Summit Financial Group?

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

How does Summit Financial Group's dividend impact shareholders?

The dividend provides a direct income return to shareholders, reflecting the company’s financial health.