Independent Bank Corporation Announces Quarterly Cash Dividend on Common Stock

Rhea-AI Summary

Independent Bank Corporation (NASDAQ: IBCP), a Michigan-based bank holding company, announced a quarterly cash dividend of 23 cents per share, payable on May 15, 2023. Shareholders of record by May 5, 2023 will receive this dividend. With total assets of approximately $5.0 billion, Independent Bank operates across Michigan’s Lower Peninsula, offering a comprehensive range of financial services, including commercial banking, mortgage lending, investments, and insurance. The bank has been dedicated to providing exceptional service and value to its customers and shareholders since its inception in 1864.

Positive

• Quarterly cash dividend of 23 cents per share enhances shareholder income.
• Company's commitment to delivering value reflects confidence in financial stability.

Negative

• None.

GRAND RAPIDS, Mich., April 25, 2023 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock of 23 cents per share. This dividend is payable on May 15, 2023 to shareholders of record on May 5, 2023.

About Independent Bank Corporation

Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $5.0 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan's Lower Peninsula through one state-chartered bank subsidiary. This subsidiary (Independent Bank) provides a full range of financial services, including commercial banking, mortgage lending, investments and insurance services. Independent Bank Corporation is committed to providing exceptional personal service and value to its customers, stockholders and the communities it serves.

For more information, please visit our Web site at: IndependentBank.com.

Contact:

William B. Kessel, President and CEO, 616.447.3933 Gavin A. Mohr, Chief Financial Officer, 616.447.3929

FAQ

What is the dividend amount declared by Independent Bank Corporation?

The dividend amount declared is 23 cents per share.

When is the dividend payment date for IBCP shareholders?

The dividend payment date is May 15, 2023.

Who is eligible to receive the dividend from IBCP?

Shareholders of record as of May 5, 2023, are eligible to receive the dividend.

What are the total assets of Independent Bank Corporation?

Independent Bank Corporation has total assets of approximately $5.0 billion.