ACNB Corporation Boosts Cash Dividend to $0.38 per Share
ACNB Corporation Announces Increased Cash Dividend
ACNB Corporation (NASDAQ: ACNB), the financial holding company for ACNB Bank and ACNB Insurance Services, is excited to share some remarkable news regarding its quarterly dividend structure. The Board of Directors has officially approved a quarterly cash dividend of $0.38 per share. This represents a noticeable increase that many shareholders have been eagerly anticipating.
Details of the Dividend Announcement
This increased dividend will be payable on December 15, shortly after the record date set for December 1. The new dividend showcases an 11.8% increase, amounting to $0.04 above the previous quarter's dividend of $0.34 per share and an even more impressive 18.8% increase compared to the $0.32 cash dividend paid during the same period last year. Such increments are indicative of ACNB Corporation's consistent and forward-thinking approach toward dividends.
Chief Executive Officer's Perspective
James P. Helt, the President & Chief Executive Officer, expressed his enthusiasm about this dividend increase, describing it as a testament to the company's strong financial performance and the Board's confidence in its potential for sustained growth. Helt emphasized that the steady growth of dividends has been a defining aspect of the Corporation's strategy since 2017, during which the quarterly cash dividends have escalated from $0.20 to $0.38 per share—a remarkable surge of 90% in just a few years.
About ACNB Corporation
Headquartered in Gettysburg, PA, ACNB Corporation is a robust financial holding company managing assets totaling approximately $3.26 billion. It encompasses a variety of services through its wholly-owned subsidiaries, including ACNB Bank and ACNB Insurance Services, Inc. With its rich heritage dating back to 1857, ACNB Bank provides a comprehensive range of banking services, such as wealth management, trust services, and retail brokerage, across an extensive network of community offices.
Services Offered by ACNB Bank
Currently, ACNB Bank operates 33 community banking offices supplemented by a Limited Purpose Office, strategically located in various counties across Pennsylvania and Maryland. The institution prides itself on its commitment to offering superior banking solutions that cater to both personal and commercial clients. Meanwhile, ACNB Insurance Services operates as a dynamic full-service insurance agency, licensed in 46 states, providing essential property, casualty, health, life, and disability insurance services.
Commitment to Shareholders
ACNB Corporation's commitment to returning value to its shareholders is a cornerstone of its operational philosophy. The upward trajectory of dividends over the years is a clear reflection of the company’s disciplined capital management approach, ensuring sustainable returns for its investors. This ongoing trend not only supports current shareholders but also helps attract new investors who are keen on benefiting from the company’s promising financial outlook.
Contributions to the Community
ACNB Corporation has solidified its presence in the community by offering diverse banking and insurance services that enhance the economic landscape. It continuously strives to foster financial literacy and create meaningful connections with the populace by participating in local initiatives, ensuring it remains not just a financial entity but a valuable community partner.
Looking Ahead
As ACNB Corporation continues to thrive, it remains poised to explore new opportunities for growth and enhancement in its service offerings. The management is focused on adapting to evolving market conditions and technological advancements, all while ensuring that shareholder interests are at the forefront of its business strategies.
Frequently Asked Questions
What is the new cash dividend per share for ACNB Corporation?
The new cash dividend per share is $0.38, reflecting an increase from previous quarters.
When will the dividend be payable?
The dividend will be payable on December 15 to shareholders of record as of December 1.
How long has ACNB Corporation been increasing its dividends?
ACNB Corporation has been increasing its dividends annually since 2017.
What is the significance of this dividend increase?
This increase signifies ACNB Corporation's strong financial performance and commitment to returning value to its shareholders.
Who can shareholders contact for more information?
Shareholders can contact Kevin J. Hayes, SVP/General Counsel, at 717.339.5161 or via email at khayes@acnb.com for more details.
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