Southern Michigan Bancorp, Inc. Announces Increase in Quarterly Dividend
Southern Michigan Bancorp, Inc. (OTC Pink: SOMC) has announced a quarterly cash dividend increase to $0.13 per share, up from $0.12 per share, effective April 2022.
Sentiment and the balance of points
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Rhea-AI Summary
Southern Michigan Bancorp, Inc. (OTC Pink: SOMC) has announced a quarterly cash dividend increase to $0.13 per share, up from $0.12 per share, effective April 2022. This represents an annualized dividend of $0.52 per share, yielding 2.48% based on the current market price of $21.00 per share. The dividend will be paid on April 22, 2022 to shareholders on record as of April 8, 2022.
Southern Michigan Bancorp operates 13 branches across several counties, providing diverse financial services.
Positive
- Quarterly cash dividend increased from $0.12 to $0.13 per share.
- Annualized cash dividend of $0.52 per share provides a 2.48% yield.
Negative
- Future dividends depend on financial health and board discretion.
Details
News Market Reaction – SOMC
The recorded move for SOMC in the trading session of this news was +1.19%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
COLDWATER, Mich., March 23, 2022 (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 2022. The
Southern Michigan Bancorp, Inc. is a bank holding company and the parent company of Southern Michigan Bank & Trust. It operates 13 branches within Branch, Calhoun, Hillsdale, Kalamazoo, and St. Joseph Counties, 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.
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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.
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