Southern Michigan Bancorp Announces Dividend Plans for Investors
Southern Michigan Bancorp Declares Quarterly Dividend
The Board of Directors of Southern Michigan Bancorp, Inc. (OTC: SOMC) has announced an exciting opportunity for investors with the declaration of a quarterly cash dividend. This dividend amounts to $0.15 per share on the outstanding shares of the corporation's stock. Such initiatives emphasize the company’s dedication to providing value to its shareholders.
Details of the Dividend Payment
For those looking to benefit from this announcement, the dividend will be payable on an upcoming date to shareholders who are on record as of a specified date. The annualized cash dividend totals $0.60 per share, showcasing a notable 3.47% yield based on the present market price of the stock.
About Southern Michigan Bancorp, Inc.
Southern Michigan Bancorp, Inc. stands as a reputable bank holding company, and it is also the parent of Southern Michigan Bank & Trust. The corporation operates 17 branches across several counties, including those in Branch, Calhoun, Hillsdale, Jackson, Kalamazoo, and St. Joseph. They provide a comprehensive suite of consumer, business, and wealth management services tailored to meet diverse financial needs in the region.
Commitment to Shareholders
This dividend declaration reflects Southern Michigan Bancorp's ongoing commitment to its shareholders and the proactive measures taken by management to ensure financial stability. The continued financial health of the corporation enhances its ability to return value to investors, underscoring confidence in their strategic direction.
Contact Information for Inquiries
For further details regarding the dividend or any corporate inquiries, investors may reach out to:
CONTACT: John H. Castle, Chairman (517) 279-5500
Frequently Asked Questions
What is the declared dividend amount for Southern Michigan Bancorp?
The Board has declared a quarterly dividend of $0.15 per share on the outstanding shares.
When is the dividend payment date?
The dividend is scheduled to be paid on a date following the record date for shareholders.
What is the dividend yield based on current market price?
The annualized cash dividend represents a yield of 3.47% based on the current market price.
How many branches does Southern Michigan Bank & Trust operate?
Southern Michigan Bank & Trust operates 17 branches across several counties.
Who can I contact for more information about the dividend?
You can reach John H. Castle, the Chairman, at (517) 279-5500 for any inquiries.
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