Independent Bank Corp. Announces a 6% Increase in Quarterly Dividend

Rhea-AI Summary

The Board of Directors of Independent Bank Corp. (NASDAQ: INDB) has declared a $0.51 per share dividend, payable on April 8, 2022, to shareholders on record as of March 28, 2022. CEO Christopher Oddleifson expressed confidence in the bank's fundamentals and announced a 6% increase in the dividend, demonstrating financial stability. Additionally, Rockland Trust Company, the bank's subsidiary, has been recognized as a top workplace and ranked #1 bank in Massachusetts by Forbes in 2021.

Positive

• Announcement of a $0.51 dividend per share, reflecting shareholder returns.
• 6% increase in dividend indicates strong financial health and confidence.
• Recognition as the #1 bank in Massachusetts by Forbes enhances reputation.

Negative

• None.

ROCKLAND, Mass.--(BUSINESS WIRE)-- The Board of Directors of Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced a $0.51 per share dividend. The dividend will be payable on April 8, 2022, to stockholders of record as of the close of business on March 28, 2022.

“We remain confident in our core fundamentals and our future prospects,” stated Christopher Oddleifson, Chief Executive Officer of Independent Bank Corp. “We are pleased to leverage our confidence and financial stability to support a 6% dividend increase for our shareholders.”

Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. Rockland Trust was named to The Boston Globe's "Top Places to Work" 2021 list, an honor earned for the 13th consecutive year. In 2021, Rockland Trust was ranked the #1 Bank in Massachusetts according to Forbes World's Best Banks list for the second year in a row. Rockland Trust has a longstanding commitment to equity and inclusion. This commitment is underscored by initiatives such as Diversity and Inclusion leadership training, a colleague Allyship mentoring program, and numerous Employee Resource Groups focused on providing colleague support and education, reinforcing a culture of mutual respect and advancing professional development, and Rockland Trust's sponsorship of diverse community organizations through charitable giving and employee-based volunteerism. In addition, Rockland Trust is deeply committed to the communities it serves, as reflected in the overall "Outstanding" rating in its most recent Community Reinvestment Act performance evaluation. Rockland Trust offers a wide range of banking, investment, and insurance services. The Bank serves businesses and individuals through over 120 retail branches, commercial and residential lending centers, and investment management offices in eastern Massachusetts, including Greater Boston, North Shore, South Shore, Cape Cod and Islands, Worcester County, and Rhode Island. Rockland Trust also offers a full suite of mobile, online, and telephone banking services. Rockland Trust is an FDIC member and an Equal Housing Lender. To find out why Rockland Trust is the bank "Where Each Relationship Matters®," please visit RocklandTrust.com.

Category: Dividends Releases

View source version on businesswire.com: https://www.businesswire.com/news/home/20220317005613/en/

Chris Oddleifson

President and

Chief Executive Officer

(781) 982-6660



Mark J. Ruggiero

Chief Financial Officer

(781) 982-6281

Source: Independent Bank Corp.

FAQ

What is the dividend amount for Independent Bank Corp (INDB) in 2022?

Independent Bank Corp (INDB) declared a dividend of $0.51 per share.

When is the dividend for Independent Bank Corp (INDB) payable?

The dividend will be payable on April 8, 2022.

What was the percentage increase in the dividend for Independent Bank Corp (INDB)?

The dividend was increased by 6%.

What date is the record date for the dividend payment for Independent Bank Corp (INDB)?

The record date for the dividend payment is March 28, 2022.