ACNB Corporation Announces Second Quarter Cash Dividend
- ACNB announced a significant 14.2% increase in its quarterly cash dividend to $0.32 per share.
- The dividend declaration will result in aggregate dividend payments of approximately $2.72 million to ACNB shareholders in the second quarter of 2024.
- The increase marks the second consecutive increase to the quarterly cash dividend in less than a year.
- The Board of Directors' decision to raise the dividend reflects the company's strong financial position and confidence in future growth and profitability.
- None.
GETTYSBURG, Pa., April 24, 2024 (GLOBE NEWSWIRE) -- ACNB Corporation (NASDAQ: ACNB), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced today that the Board of Directors approved and declared a regular quarterly cash dividend of
“I am pleased to announce this increase in ACNB Corporation’s quarterly dividend, which reflects our Board of Directors’ longstanding commitment to delivering value to shareholders in the form of quarterly cash dividend payments,” said James P. Helt, ACNB Corporation President & Chief Executive Officer. Mr. Helt continued, “Our decision to increase the dividend is a testament to the strength of our financial position and our confidence in the future growth and profitability of ACNB Corporation. This dividend declaration also represents our second increase to the quarterly cash dividend in less than a year, and represents the fourth consecutive calendar year the Corporation has increased the quarterly cash dividend.”
ACNB Corporation, headquartered in Gettysburg, PA, is the independent
FORWARD-LOOKING STATEMENTS - In addition to historical information, this press release may contain forward-looking statements. Examples of forward-looking statements include, but are not limited to, (a) projections or statements regarding future earnings, expenses, net interest income, other income, earnings or loss per share, asset mix and quality, growth prospects, capital structure, and other financial terms, (b) statements of plans and objectives of Management or the Board of Directors, and (c) statements of assumptions, such as economic conditions in the Corporation’s market areas. Such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “intends”, “will”, “should”, “anticipates”, or the negative of any of the foregoing or other variations thereon or comparable terminology, or by discussion of strategy. Forward-looking statements are subject to certain risks and uncertainties such as national, regional and local economic conditions, competitive factors, and regulatory limitations. Actual results may differ materially from those projected in the forward-looking statements. Such risks, uncertainties, and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: short-term and long-term effects of inflation and rising costs on the Corporation, customers and economy; effects of governmental and fiscal policies, as well as legislative and regulatory changes; effects of new laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) and their application with which the Corporation and its subsidiaries must comply; impacts of the capital and liquidity requirements of the Basel III standards; effects of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters; ineffectiveness of the business strategy due to changes in current or future market conditions; future actions or inactions of the United States government, including the effects of short-term and long-term federal budget and tax negotiations and a failure to increase the government debt limit or a prolonged shutdown of the federal government; effects of economic conditions particularly with regard to the negative impact of any pandemic, epidemic or health-related crisis and the responses thereto on the operations of the Corporation and current customers, specifically the effect of the economy on loan customers’ ability to repay loans; effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; inflation, securities market and monetary fluctuations; risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities, and interest rate protection agreements, as well as interest rate risks; difficulties in acquisitions and integrating and operating acquired business operations, including information technology difficulties; challenges in establishing and maintaining operations in new markets; effects of technology changes; effects of general economic conditions and more specifically in the Corporation’s market areas; failure of assumptions underlying the establishment of reserves for loan losses and estimations of values of collateral and various financial assets and liabilities; acts of war or terrorism or geopolitical instability; disruption of credit and equity markets; ability to manage current levels of impaired assets; loss of certain key officers; ability to maintain the value and image of the Corporation’s brand and protect the Corporation’s intellectual property rights; continued relationships with major customers; and, potential impacts to the Corporation from continually evolving cybersecurity and other technological risks and attacks, including additional costs, reputational damage, regulatory penalties, and financial losses. We caution readers not to place undue reliance on these forward-looking statements. They only reflect Management’s analysis as of this date. The Corporation does not revise or update these forward-looking statements to reflect events or changed circumstances. Please carefully review the risk factors described in other documents the Corporation files from time to time with the SEC, including the Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Please also carefully review any Current Reports on Form 8-K filed by the Corporation with the SEC.
ACNB #2024-9
April 24, 2024
| Contact: | Kevin J. Hayes |
| SVP/General Counsel | |
| Secretary & Chief | |
| Governance Officer | |
| 717.339.5161 | |
| khayes@acnb.com |
FAQ
What is the amount of the quarterly cash dividend per share announced by ACNB ?
When will the quarterly cash dividend be payable to shareholders of ACNB ?
What is the total amount of aggregate dividend payments for the second quarter of 2024 for ACNB shareholders?
Why did ACNB decide to increase the quarterly cash dividend?
