Isabella Bank Corporation Announces Fourth Quarter 2023 Dividend

Rhea-AI Summary

Isabella Bank Corporation (ISBA) declared a fourth-quarter cash dividend of $0.28 per common share, bringing year-to-date cash dividends to $1.12, increasing 2.75% over 2022. The annualized cash dividend yield is 5.61% based on the closing stock price of $19.97 as of November 29, 2023. The addition of a new loan and wealth office in downtown Bay City and the celebration of Isabella Bank's 120th anniversary demonstrate the company's commitment to growth and community service.

Positive

• Increase in year-to-date cash dividends by 2.75% over 2022
• Annualized cash dividend yield of 5.61%
• Expansion with a new loan and wealth office in downtown Bay City
• Celebration of Isabella Bank's 120th anniversary

Negative

• None.

MT. PLEASANT, Mich., Nov. 30, 2023 /PRNewswire/ -- Isabella Bank Corporation (OTCQX:ISBA) today announced its Board of Directors declared a fourth-quarter cash dividend of $0.28 per common share at its regular meeting on November 29, 2023. The $0.28 dividend brings year-to-date cash dividends to $1.12, increasing 2.75% over cash dividends paid in 2022. The dividend will be payable December 15, 2023 to shareholders of record as of December 13, 2023. Based on ISBA's closing stock price of $19.97 per share as of November 29, 2023, the annualized cash dividend yield is 5.61%.

"The fourth quarter cash dividend of $0.28 represents the results of our continued commitment to deliver shareholder value, led by our focus on maintaining financial strength and performance," said Jae A. Evans, President and Chief Executive Officer. 

"Our commitment to growth was recently evidenced by the addition of a new loan and wealth office in downtown Bay City. This location marks our first in Bay County, expanding our presence to eight counties. 2023 also marked Isabella Bank's 120th anniversary. We are incredibly proud to be the leading independent bank for the communities we have served for 120 years," Evans added.

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 31 locations throughout eight Mid-Michigan counties: Bay, Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw.

For more information about Isabella Bank Corporation, visit the Investor Relations 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 Stonegate Capital Partners, Inc. (www.stonegateinc.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.}

View original content:https://www.prnewswire.com/news-releases/isabella-bank-corporation-announces-fourth-quarter-2023-dividend-302002666.html

SOURCE Isabella Bank Corporation

FAQ

What is the cash dividend declared by Isabella Bank Corporation for the fourth quarter?

Isabella Bank Corporation declared a cash dividend of $0.28 per common share for the fourth quarter.

What is the year-to-date cash dividends paid by Isabella Bank Corporation?

The year-to-date cash dividends paid by Isabella Bank Corporation amount to $1.12, increasing by 2.75% over cash dividends paid in 2022.

What is the annualized cash dividend yield for Isabella Bank Corporation?

The annualized cash dividend yield for Isabella Bank Corporation is 5.61% based on the closing stock price of $19.97 as of November 29, 2023.

What recent growth initiatives has Isabella Bank Corporation undertaken?

Isabella Bank Corporation recently added a new loan and wealth office in downtown Bay City, marking its first location in Bay County, and celebrated its 120th anniversary, demonstrating the company's commitment to growth and community service.