Southern Michigan Bancorp, Inc. Announces Increase in Quarterly Dividend
Rhea-AI Summary
Southern Michigan Bancorp (SOMC) announced a quarterly cash dividend increase to $0.17 per share, up $0.01 from the January 2026 payment. The dividend is payable April 17, 2026, to shareholders of record April 3, 2026.
The annualized dividend equals $0.68 per share, which represents a 2.67% yield based on a current market price of $25.50 per share. Southern Michigan Bancorp operates 18 branches and a loan production office across six counties, providing consumer, business, and wealth management services.
Positive
- Quarterly dividend increased by $0.01 to $0.17 per share
- Dividend payable April 17, 2026 with record date April 3, 2026
- Annualized dividend equals $0.68, providing a 2.67% yield
Negative
- Increase is modest at $0.01 per share (quarterly)
- Dividend yield of 2.67% may be low for income-focused investors
AI-generated analysis. How Rhea-AI works. Not financial advice.
COLDWATER, Mich., March 18, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of Southern Michigan Bancorp, Inc. (OTC Pink: SOMC) approved an increase to the quarterly cash dividend that will be paid in April 2026. The
Southern Michigan Bancorp, Inc. is a bank holding company and the parent company of Southern Michigan Bank & Trust. It operates 18 branches within Branch, Calhoun, Hillsdale, Jackson, Kalamazoo, and St. Joseph Counties, and a loan production office in Jackson County, providing a broad range of consumer, business, and wealth management services throughout the region. For more information, please visit the Southern Michigan Bank & Trust website, www.smb-t.com.
This press release contains forward-looking statements that are based on management’s beliefs, assumptions, current expectations, estimates and projections about the financial services industry, the economy, and Southern Michigan Bancorp, Inc. Although we currently expect to continue to pay a quarterly cash dividend, each future dividend will be considered and declared by the board of directors in its discretion. Whether the board of directors continues to declare dividends depends on a number of factors, including our future financial condition and profitability. Forward-looking statements are based upon current beliefs and expectations and involve substantial risks, uncertainties, and assumptions (“risk factors”), which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. We undertake no obligation to update or revise our forward-looking statements to reflect developments that occur, or information obtained after the date of this report.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/253d8ac8-1be8-475a-868c-ca6266362d14
CONTACT: John Waldron, President & CEO (517) 279-5500