Community Trust Bancorp, Inc. Increases Its Cash Dividend

Rhea-AI Summary

Community Trust Bancorp, Inc. (NASDAQ: CTBI) announced a 10% increase in its quarterly cash dividend to $0.44 per share, effective from October 1, 2022, for shareholders of record on September 15, 2022. This marks the 42nd consecutive year of dividend increases, highlighting the company’s consistent commitment to returning value to shareholders. Community Trust Bancorp, headquartered in Pikeville, Kentucky, has total assets of $5.4 billion and operates 68 banking locations across Kentucky, West Virginia, and Tennessee.

Positive

• 10% increase in quarterly cash dividend to $0.44 per share.
• 42nd consecutive year of dividend increases demonstrating commitment to shareholders.
• Company holds total assets of $5.4 billion, indicating strong financial stability.

Negative

• None.

PIKEVILLE, Ky.--(BUSINESS WIRE)-- On July 26, 2022, the Board of Directors of Community Trust Bancorp, Inc. (NASDAQ: CTBI) increased its quarterly cash dividend to $0.44 per share beginning with the October 1, 2022 payment to shareholders of record on September 15, 2022. This represents an increase of 10% in the quarterly cash dividend. “We are pleased to have increased the cash dividend to our shareholders for the 42^nd consecutive year," said Mark A. Gooch, Vice Chairman, President, and CEO.

Community Trust Bancorp, Inc., with assets of $5.4 billion, is headquartered in Pikeville, Kentucky and has 68 banking locations across eastern, northeastern, central, and south central Kentucky, six banking locations in southern West Virginia, three banking locations in northeastern Tennessee, four trust offices across Kentucky, and one trust office in Tennessee.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220727005261/en/

Mark A. Gooch, Vice Chairman, President and CEO

Community Trust Bancorp, Inc.

(606) 437-3229

Source: Community Trust Bancorp, Inc.

FAQ

What is the new dividend amount for CTBI shareholders?

The new quarterly cash dividend for Community Trust Bancorp, Inc. is $0.44 per share.

When will the new dividend for CTBI be paid?

The new dividend will be paid on October 1, 2022, to shareholders of record on September 15, 2022.

How long has Community Trust Bancorp been increasing its dividend?

Community Trust Bancorp has increased its dividend for 42 consecutive years.

What is the significance of the 10% dividend increase for CTBI?

The 10% increase in dividend reflects the company's ongoing commitment to providing shareholder value.