TowneBank Announces Quarterly Cash Dividend
TowneBank (NASDAQ: TOWN) declared a second-quarter cash dividend of $0.20 per common share, payable on July 9, 2021, to shareholders of record on June 30, 2021.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
TowneBank (NASDAQ: TOWN) declared a second-quarter cash dividend of $0.20 per common share, payable on July 9, 2021, to shareholders of record on June 30, 2021. This marks an 11.11% increase from the previous dividend rate, bringing the annual dividend to $0.80 per share. The decision on future dividends will depend on the Board of Directors' approval and regulatory conditions. As of March 31, 2021, TowneBank reported total assets of $15.08 billion, making it one of Virginia's largest banks.
Positive
- Dividend increased by 11.11%, signaling financial strength.
- Annual dividend now stands at $0.80 per share, enhancing shareholder income.
Negative
- Potential future dividends are subject to Board approval and regulatory restrictions.
Details
News Market Reaction – TOWN
The recorded move for TOWN in the trading session of this news was -0.84%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Common Stock Dividend Increased by
SUFFOLK, Va., June 02, 2021 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors on June 1, 2021 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 mission of serving others and enriching lives. Dedicated to a culture of caring, Towne values all employees and members by embracing their diverse talents, perspectives, and experiences.
Today, the bank operates over 40 banking 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. Towne has grown its capabilities beyond banking to provide expertise through its controlled divisions and subsidiaries that include Towne Investment Group, Towne Wealth Management, Towne Insurance Agency, Towne Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Berkshire Hathaway HomeServices Towne Realty, Towne 1031 Exchange, LLC, and Towne Vacations. With total assets of
Media contact:
G. Robert Aston, Jr., Executive Chairman, 757-638-6780
J. Morgan Davis, President and Chief Executive Officer, 757-673-1673
Investor contact:
William B. Littreal, Chief Financial Officer, 757-638-6813
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.