TowneBank Announces Quarterly Cash Dividend

Rhea-AI Summary

TowneBank (NASDAQ: TOWN) has declared a fourth-quarter cash dividend of $0.25 per common share. The dividend will be payable on January 14, 2025, to shareholders of record on December 31, 2024. The Hampton Roads based bank's future dividend payments remain subject to Board approval and regulatory restrictions.

Positive

• Maintained quarterly dividend of $0.25 per share, demonstrating financial stability
• Consistent shareholder returns through dividend payments

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• None.

SUFFOLK, Va., Nov. 27, 2024 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors declared its fourth-quarter shareholder cash dividend of $0.25 per common share payable on January 14, 2025, to shareholders of record on December 31, 2024.

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.

Now celebrating 25 years, TowneBank operates over 50 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 $17.19 billion as of September 30, 2024, TowneBank is one of the largest banks headquartered in Virginia.

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

FAQ

What is TowneBank's Q4 2024 dividend amount per share?

TowneBank's fourth-quarter dividend for 2024 is $0.25 per common share.

When is TowneBank (TOWN) Q4 2024 dividend payable?

The dividend is payable on January 14, 2025, to shareholders of record as of December 31, 2024.

What is the record date for TowneBank's Q4 2024 dividend?

The record date for TowneBank's fourth-quarter dividend is December 31, 2024.

Does TowneBank (TOWN) pay regular quarterly dividends?

Yes, TowneBank pays quarterly dividends, subject to Board of Directors' approval and regulatory restrictions.