Commercial National Declares $0.11 Per Share Fourth Quarter Dividend
Commercial National Financial has declared a quarterly dividend of $0.11 per share, payable December 6, 2024, to shareholders of record as of November 29, 2024. The company noted that Federal Reserve Bank monetary policy easing, which would benefit the company, only began in mid-September 2024. The company's undistributed earnings from 2022-2023 were fully utilized in Q3 2024. Executive officers and directors own 16.11% (460,757 shares) of outstanding shares. The company operates seven community banking facilities in Pennsylvania, employs 80 people, with 34 employees represented by UAW Local 1799 under a labor agreement extending to February 2029.
Commercial National Financial ha dichiarato un dividendo trimestrale di $0,11 per azione, pagabile il 6 dicembre 2024, agli azionisti registrati al 29 novembre 2024. L'azienda ha sottolineato che l'allentamento della politica monetaria della Federal Reserve Bank, che avvantaggerà l'azienda, è iniziato solo a metà settembre 2024. Gli utili non distribuiti dell'azienda dal 2022 al 2023 sono stati completamente utilizzati nel terzo trimestre del 2024. I dirigenti e i membri del consiglio possiedono il 16,11% (460.757 azioni) delle azioni in circolazione. L'azienda gestisce sette filiali bancarie comunitarie in Pennsylvania, impiega 80 persone, di cui 34 rappresentate dall'UAW Local 1799 sotto un accordo di lavoro che si estende fino a febbraio 2029.
Commercial National Financial ha declarado un dividendo trimestral de $0.11 por acción, que se pagará el 6 de diciembre de 2024, a los accionistas registrados hasta el 29 de noviembre de 2024. La empresa señaló que el alivio de la política monetaria del Banco de la Reserva Federal, que beneficiará a la empresa, solo comenzó a mediados de septiembre de 2024. Las ganancias no distribuidas de la empresa de 2022 a 2023 se utilizaron completamente en el tercer trimestre de 2024. Los ejecutivos y directores poseen el 16.11% (460,757 acciones) de las acciones en circulación. La empresa opera siete instalaciones bancarias comunitarias en Pennsylvania y emplea a 80 personas, de las cuales 34 están representadas por UAW Local 1799 bajo un acuerdo laboral que se extiende hasta febrero de 2029.
Commercial National Financial은 주당 $0.11의 분기 배당금을 선언했으며, 2024년 12월 6일에 2024년 11월 29일 기준의 주주에게 지급됩니다. 회사는 연방준비은행의 통화 정책 완화가 2024년 9월 중순에 시작되었으며, 이는 회사에 긍정적인 영향을 미칠 것이라고 언급했습니다. 2022-2023년 동안 미배당된 이익은 2024년 3분기에 완전히 사용되었습니다. 경영진과 이사진은 전체 주식의 16.11% (460,757 주)를 소유하고 있습니다. 회사는 펜실베이니아에 7개의 지역 은행 지점을 운영하며, 80명의 직원을 고용하고 있으며, 그 중 34명은 2029년 2월까지 연장된 노동 계약에 따라 UAW Local 1799에 속해 있습니다.
Commercial National Financial a déclaré un dividende trimestriel de 0,11 $ par action, payable le 6 décembre 2024, aux actionnaires enregistrés au 29 novembre 2024. La société a noté que l'assouplissement de la politique monétaire de la Banque fédérale de réserve, qui profiterait à l'entreprise, n'a commencé qu'à la mi-septembre 2024. Les bénéfices non distribués de l'entreprise de 2022 à 2023 ont été entièrement utilisés au troisième trimestre 2024. Les dirigeants et les administrateurs détiennent 16,11 % (460 757 actions) des actions en circulation. L'entreprise exploite sept établissements bancaires communautaires en Pennsylvanie et emploie 80 personnes, dont 34 sont représentées par l'UAW Local 1799 dans le cadre d'un accord de travail qui s'étend jusqu'en février 2029.
Commercial National Financial hat eine vierteljährliche Dividende von $0,11 pro Aktie erklärt, die am 6. Dezember 2024 an die Aktionäre gezahlt wird, die am 29. November 2024 im Aktienregister stehen. Das Unternehmen stellte fest, dass die Lockerung der Geldpolitik der Federal Reserve Bank, die dem Unternehmen zugutekommen würde, erst Mitte September 2024 begann. Die nicht ausgeschütteten Gewinne des Unternehmens aus den Jahren 2022-2023 wurden im dritten Quartal 2024 vollständig genutzt. Die leitenden Angestellten und Direktoren besitzen 16,11 % (460.757 Aktien) der ausgegebenen Aktien. Das Unternehmen betreibt sieben Gemeinschaftsbankstellen in Pennsylvania und beschäftigt 80 Mitarbeiter, von denen 34 unter einem bis Februar 2029 laufenden Arbeitsvertrag von der UAW Local 1799 vertreten werden.
- Maintained quarterly dividend payment of $0.11 per share
- High insider ownership at 16.11% indicates management confidence
- Long-term labor agreement in place until February 2029 provides operational stability
- dividend carryover capacity after utilizing undistributed earnings
- Union status restricts strategic options compared to non-unionized institutions
- High Federal Reserve marginal funding costs affecting earnings expectations
LATROBE, PA / ACCESSWIRE / November 19, 2024 / Commercial National Financial Corporation, parent company of Commercial Bank & Trust of PA, has declared a quarterly dividend of
Direct and beneficial ownership by executive officers and directors of the Company's outstanding shares totaled 460,757 shares, or
As disclosed each year in the Annual Report to Shareholders, on September 30, 2024, the Company employed 80 people in full-time and part-time positions. Thirty four (34) employees are represented by the United Auto Workers, Local 1799. Of that bargaining unit total, thirty one (31) employees are full-time and there are three (3) part-time employees. The Company has had unionized employees since 1972. In November 2023, the agreement between the Company and the bargaining unit was negotiated and subsequently ratified by the bargaining unit with an effective date of February 15, 2024. The labor agreement will expire in February 2029. The Commonwealth of Pennsylvania and the National Labor Relations Board both afford protection to the organized status of pre-existing collective bargaining units. The Company has been advised that bargaining unit status limits the Company's strategic options relative to those of non-unionized insured depository institutions. The Company continues to consider this as a factor in its strategic and capital management decisions.
The Company operates seven community banking facilities in Hempfield Township, Latrobe, Ligonier, Unity Township and West Newton, Pennsylvania and also maintains a commercial business development sales force throughout its entire market area. The Company operates an asset management and trust division of Commercial Bank & Trust of PA headquartered in Greensburg, Pennsylvania. Commercial Bank & Trust of PA also serves its customer base from an Internet banking site (www.cnbthebankonline.com) and an automated TouchTone Teller banking system.
Forward Looking Statements
Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "to," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. These statements are based on information currently available to the company, and the company assumes no obligation to update these statements as circumstances change. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including changes in general economic and financial market conditions, unforeseen credit problems, and the company's ability to execute its business plans. The actual results of future events could differ materially from those stated in any forward-looking statements herein.
SOURCE: Commercial National Financial Corp. (Pennsylvania)
View the original press release on accesswire.com
FAQ
What is Commercial National Financial 's (CNAF) Q4 2024 dividend amount?
When is CNAF's Q4 2024 dividend payable?
How many banking facilities does CNAF operate in Pennsylvania?
What percentage of CNAF shares are owned by executives and directors?
