HILLSDALE, Mich. - CNB Community Bancorp, Inc. (OTCQX: CNBB) has declared a quarterly cash dividend of $0.30 per share on its common stock, marking a slight increase from the previous dividend. The company also announced a special annual dividend of $0.20 per share. Both dividends are slated for distribution on January 17, 2025, to shareholders on record as of December 31, 2024. The current dividend yield stands at 3.79%, reflecting the company's seven consecutive years of dividend increases, according to InvestingPro data.
This announcement represents a $0.01 per share increase from the dividend paid in the fourth quarter of 2023. The decision by CNB Community Bancorp's Board of Directors to raise the dividend and declare a special dividend reflects a potential position of financial strength and commitment to shareholder returns. The bank's shares have shown strong momentum, posting a 33.81% return over the past six months.
CNB Community Bancorp, Inc., through its subsidiary County National Bank, has been operating in Southern Michigan since 1934. It offers full-service community banking, investment management, and trust services. With 13 full-service offices and 19 ATMs, CNB has a substantial presence in the region. In the current year, CNB was ranked 85th in American Banker Magazine's Top 100 publicly traded banks under $2 billion, indicating its industry standing.
The company's performance and subsequent dividend declaration may be of interest to current and potential investors as an indicator of its financial health and its ability to generate shareholder value. It is important to note that this information is based on a press release statement from CNB Community Bancorp, Inc.
In other recent news, CNB Community Bancorp has maintained its quarterly cash dividend at $0.29 per share, consistent with the previous quarter's distribution. This decision reflects the company's unwavering commitment to shareholder returns. The dividend is scheduled for payment on October 11, 2024, to shareholders of record as of September 30, 2024.
CNB Community Bancorp, recognized for its community-based banking model, operates through its subsidiary, County National Bank. The bank operates 13 full-service offices and 19 ATMs across Southern Michigan, reflecting its commitment to serving the local community.
The company was recently ranked 85th in the Top 100 publicly traded banks under $2 billion by American Banker Magazine, highlighting its standing within the banking community. These are among the recent developments for CNB Community Bancorp, as the company continues its commitment to providing value to its shareholders and serving its community effectively.
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