Farmers National Banc Corp. Declares Quarterly Cash Dividend

Rhea-AI Summary

Farmers National Banc Corp. (FMNB) has declared a quarterly cash dividend of $0.16 per share, marking a 45% year-over-year increase. The record date for this dividend is March 11, 2022, and it will be payable on March 31, 2022. This signifies the company’s seventh consecutive year of dividend increases, with an annualized cash dividend growth from $0.12 per share in 2015 to $0.64 per share, reflecting a 27% compound annual growth rate. This growth is attributed to strong financial performance and the successful acquisition of Cortland Bancorp.

Positive

• 45% year-over-year dividend increase reflects strong financial performance.
• $0.16 dividend represents commitment to returning capital to shareholders.
• Seventh consecutive year of dividend increases.
• Annualized cash dividend grew from $0.12 in 2015 to $0.64 in 2022.

Negative

• None.

CANFIELD, Ohio--(BUSINESS WIRE)-- On February 22, 2022, the Board of Directors of the Farmers National Banc Corp. (NASDAQ: FMNB) declared a quarterly cash dividend of $0.16 per share. The common stock cash dividend will have a record date of March 11, 2022 and is payable to shareholders on March 31, 2022.

“The 45% year-over-year increase in our regular quarterly cash dividend payment reflects our strong financial performance, robust capital position, and the benefits the 2021 Cortland Bancorp acquisition is having on our earnings,” said Kevin J. Helmick, President and CEO of Farmers. “This marks the seventh consecutive year we have increased our dividend payment. In fact, our annualized cash dividend payment since 2015 has increased from $0.12 per share, to $0.64 per share representing a compound annual growth rate of 27%. We are proud of this impressive track record, which demonstrates our strong financial performance and commitment to returning capital to our shareholders.”

ABOUT FARMERS NATIONAL BANC CORP.

Founded in 1887, Farmers National Banc Corp. is a diversified financial services company headquartered in Canfield, Ohio, with $4.1 billion in banking assets. Farmers National Banc Corp.’s wholly-owned subsidiaries are comprised of The Farmers National Bank of Canfield, a full-service national bank engaged in commercial and retail banking with 48 locations in Mahoning, Trumbull, Columbiana, Stark, Summit, Portage, Wayne, Medina, Geauga and Cuyahoga counties in Ohio and Beaver County in Pennsylvania; Farmers Trust Company, which operates five trust offices and offers services in the same geographic markets and Farmers National Insurance, LLC. Total wealth management assets under care at December 31, 2021 were $3.1 billion.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220222006153/en/

Amber Wallace

Executive Vice President, Chief Retail/Marketing Officer

330-720-6441

awallace@farmersbankgroup.com

Source: Farmers National Banc Corp.

FAQ

What is the dividend amount declared by Farmers National Banc Corp. for 2022?

Farmers National Banc Corp. declared a dividend of $0.16 per share.

When is the record date for the dividend payment by FMNB?

The record date for the dividend payment is March 11, 2022.

When will the dividend be paid to FMNB shareholders?

The dividend will be payable on March 31, 2022.

How much has FMNB's dividend increased year-over-year?

The dividend increased by 45% year-over-year.

What is FMNB's track record for dividend payments?

FMNB has increased its dividend payment for seven consecutive years.