Isabella Bank Corporation Announces First Quarter 2023 Dividend

Rhea-AI Summary

Isabella Bank Corporation (OTCQX: ISBA) declared a first-quarter cash dividend of $0.28 per share, marking a 3.70% increase from the previous year. This dividend will be payable on March 31, 2023, to shareholders of record as of March 29, 2023. With a closing stock price of $24.25 on February 22, 2023, this results in an annualized cash dividend yield of 4.62%. CEO Jae A. Evans highlighted this dividend as part of the company's commitment to enhancing shareholder value, supported by record net income and earnings per share reported for 2022.

Positive

• First-quarter cash dividend of $0.28 per share, a 3.70% increase year-over-year.
• Annualized cash dividend yield of 4.62% based on February 22, 2023 closing price.
• Record net income and earnings per share reported for 2022.

Negative

• None.

MT. PLEASANT, Mich., March 2, 2023 /PRNewswire/ -- Isabella Bank Corporation (OTCQX:ISBA) today announced its Board of Directors declared a first-quarter cash dividend of $0.28 per common share at its regular meeting on February 22, 2023.  The dividend will be payable March 31, 2023 to shareholders of record as of March 29, 2023.  Based on ISBA's closing stock price of $24.25 per share as of February 22, 2023, the annualized cash dividend yield is 4.62%.

"I am pleased to announce the first quarter cash dividend of $0.28 per share, which is an increase of 3.70% over the first quarter of 2022.  Our dividend is a reflection of our commitment to increase shareholder value and provide an attractive dividend yield.  Our recently issued financial results for 2022 is further evidence of this commitment, as we produced record results for net income and earnings per share," said Jae A. Evans, President and Chief Executive Officer.

About the Corporation

Isabella Bank Corporation (OTCQX: ISBA) is the parent holding company of Isabella Bank, a state chartered community bank headquartered in Mt. Pleasant, Michigan.  Isabella Bank was established in 1903 and has been committed to serving the local banking needs of its customers and communities for 120 years.  The Bank offers personal and commercial lending and deposit products, as well as investment, trust, and estate planning services through Isabella Wealth.  The Bank has twenty-nine locations throughout seven Mid-Michigan counties: Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw.

For more information about Isabella Bank Corporation, visit the Invest in Us link at www.isabellabank.com. Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.'s electronic quotation system (www.otcmarkets.com) under the symbol "ISBA."  The Corporation's investor relations firm is Renmark Financial Communications, Inc. (www.renmarkfinancial.com).

Forward-Looking Statements

This press release includes forward-looking statements.  To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results.  Additional information concerning some of the factors that could cause materially different results is included in the sections entitled "Risk Factors" and "Forward Looking Statements" set forth in Isabella Bank Corporation's filings with the Securities and Exchange Commission, which are available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

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SOURCE Isabella Bank Corporation

FAQ

When will Isabella Bank Corporation pay its dividend for the first quarter of 2023?

The dividend will be payable on March 31, 2023.

What is the amount of the dividend declared by Isabella Bank Corporation for Q1 2023?

The declared dividend is $0.28 per common share.

What is the dividend yield for Isabella Bank Corporation based on the latest dividend announcement?

The annualized cash dividend yield is 4.62%.

What was the increase in the dividend amount compared to the first quarter of 2022?

The dividend increased by 3.70% compared to the first quarter of 2022.