Southern Michigan Bancorp, Inc. Declares Cash Dividend
Rhea-AI Summary
Southern Michigan Bancorp (OTC Pink: SOMC) has declared a quarterly dividend of $0.15 per share to be paid on January 24, 2025, to shareholders of record as of January 10, 2025. The annualized cash dividend of $0.60 per share represents a 3.08% dividend yield based on the current market price of $19.50 per share.
The company operates 18 offices across Branch, Calhoun, Hillsdale, Jackson, Kalamazoo, and St. Joseph Counties, providing consumer, business, and wealth management services throughout the region.
Positive
- Quarterly dividend maintained at $0.15 per share
- 3.08% dividend yield indicates strong shareholder returns
- Broad regional presence with 18 office locations
Negative
- None.
News Market Reaction – SOMC
In the trading session that priced this news, SOMC declined 1.28%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
COLDWATER, Mich., Dec. 18, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Southern Michigan Bancorp, Inc. (OTC Pink: SOMC) declared a quarterly dividend of
Southern Michigan Bancorp, Inc. is a bank holding company and the parent company of Southern Michigan Bank & Trust. It operates 18 offices within Branch, Calhoun, Hillsdale, Jackson, 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.
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.
