Independent Bank Corp. Announces an 8% Increase in the Quarterly Dividend

Rhea-AI Summary

The Board of Directors of Independent Bank Corp. (Nasdaq: INDB) announced a dividend of $0.55 per share, payable on January 6, 2023, to shareholders of record as of December 27, 2022. This marks an 8% increase from the previous dividend, reflecting the company's commitment to deliver strong financial performance amid uncertain market conditions. Rockland Trust, the banking subsidiary, continues to excel in customer satisfaction, ranking #1 in New England retail banking, and is recognized for its community commitment and employee development initiatives.

Positive

• Dividend increased by 8% to $0.55 per share, demonstrating confidence in financial stability.
• Ranked #1 in Customer Satisfaction with Retail Banking in New England.

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 $0.55 per share dividend. The dividend will be payable on January 6, 2023, to stockholders of record as of the close of business on December 27, 2022.

“We are well positioned to continue to deliver strong and consistent results through uncertain environments, and are pleased to announce an 8% increase in our dividend for our shareholders,” stated Christopher Oddleifson, Chief Executive Officer of Independent Bank Corp.

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 2022, Rockland Trust was ranked #1 in Customer Satisfaction with Retail Banking in New England. 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, South Shore, North 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.

*Rockland Trust received the highest score in a tie in the New England Region of the J.D. Power 2022 U.S. Retail Banking Satisfaction Study of customers’ satisfaction with their primary bank. Visit jdpower.com/awards for more details.

Category: Dividends Releases

View source version on businesswire.com: https://www.businesswire.com/news/home/20221208006007/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 latest dividend amount announced by Independent Bank Corp. (INDB)?

Independent Bank Corp. announced a dividend of $0.55 per share.

When will the dividend for INDB be paid?

The dividend will be payable on January 6, 2023.

What is the record date for the INDB dividend?

The record date for the dividend is December 27, 2022.

Has INDB increased its dividend recently?

Yes, INDB has increased its dividend by 8%.

How does INDB rank in customer satisfaction for retail banking?

INDB's subsidiary, Rockland Trust, ranked #1 in Customer Satisfaction with Retail Banking in New England.