TowneBank Announces Quarterly Cash Dividend
Rhea-AI Summary
TowneBank (NASDAQ: TOWN) has announced an increase in its quarterly cash dividend. The Board of Directors declared a Q2 2025 dividend of $0.27 per common share, representing an 8% increase from the previous dividend rate. This equates to $1.08 per common share annually. The dividend will be payable on July 11, 2025, to shareholders of record as of June 27, 2025. Future dividend declarations remain subject to Board approval and regulatory restrictions.
Positive
- 8% increase in quarterly dividend to $0.27 per share
- Annual dividend rate of $1.08 per share shows strong commitment to shareholder returns
Negative
- None.
News Market Reaction – TOWN
In the trading session that priced this news, TOWN declined 0.14%, 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.
Common Stock Dividend Increased by
SUFFOLK, Va., May 14, 2025 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors declared its second-quarter shareholder cash dividend of
The amount and declaration of future cash dividends are subject to Board of Directors’ approval in addition to regulatory restrictions.
About TowneBank:
Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and other financial services, with a focus of serving others and enriching lives. Dedicated to a culture of caring, TowneBank values all employees and members by embracing their diverse talents, perspectives, and experiences.
Today, TowneBank operates over 55 offices throughout Hampton Roads and Central Virginia, as well as Northeastern and Central North Carolina – serving as a local leader in promoting the social, cultural, and economic growth in each community. Towne offers a competitive array of business and personal banking solutions, delivered with only the highest ethical standards. Experienced local bankers providing a higher level of expertise and personal attention with local decision-making are key to the TowneBank strategy. TowneBank has grown its capabilities beyond banking to provide expertise through its affiliated companies that include Towne Wealth Management, Towne Insurance Agency, Towne Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Berkshire Hathaway HomeServices RW Towne Realty, Towne 1031 Exchange, LLC, and Towne Vacations. With total assets of
Media contact:
G. Robert Aston, Jr., Executive Chairman, 757-638-6780
William I. Foster III, President and Chief Executive Officer, 757-417-6482
Investor contact:
William B. Littreal, Chief Financial Officer, 757-638-6813
