Isabella Bank Corporation Announces Second Quarter 2021 Dividend

Rhea-AI Summary

Isabella Bank Corporation (OTCQX: ISBA) announced a cash dividend of $0.27 per common share for Q2 2021, reflecting strong financial performance. This dividend, payable on June 30, 2021, will benefit shareholders of record as of June 28, 2021. Based on the stock's closing price of $23.15, the annualized cash dividend yield stands at 4.67%. President Jae A. Evans emphasized the dividend as a commitment to enhancing shareholder value, noting an 18% increase in stock market value since the end of 2020.

Positive

• Declaration of $0.27 cash dividend for Q2 2021.
• Annualized cash dividend yield of 4.67% based on stock price.
• 18% increase in market value of ISBA stock since end of 2020.

Negative

• None.

MT. PLEASANT, Mich., June 1, 2021 /PRNewswire/ -- Isabella Bank Corporation (OTCQX:ISBA) today announced its Board of Directors declared a second-quarter cash dividend of $0.27 per common share at its regular meeting on May 26, 2021. The dividend will be payable June 30, 2021 to shareholders of record as of June 28, 2021. Based on ISBA's closing stock price of $23.15 per share as of May 26, 2021, the annualized cash dividend yield is 4.67%.

"Our $0.27 second quarter cash dividend is a reflection of the organization's continued strong financial performance and representative of our commitment to building shareholder value," said Jae A. Evans, President and Chief Executive Officer. "The short and long term strategic initiatives we have implemented to improve return on equity, return on assets, and earnings per share have also been instrumental in increasing shareholder value, which is evidenced by an 18% increase in the market value of Isabella Bank Corporation stock since the end of 2020."

About the Corporation

Isabella Bank Corporation (OTCQX: ISBA) is the parent holding company of Isabella Bank, a state chartered 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 118 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 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 market maker is Boenning & Scattergood, Inc. (www.boenninginc.com) and its 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.

View original content:http://www.prnewswire.com/news-releases/isabella-bank-corporation-announces-second-quarter-2021-dividend-301303194.html

SOURCE Isabella Bank Corporation

FAQ

What is the dividend amount announced by ISBA in June 2021?

Isabella Bank Corporation announced a dividend of $0.27 per common share.

When is the dividend payment date for ISBA?

The dividend will be payable on June 30, 2021.

What is the dividend yield for ISBA based on the latest announcement?

The annualized cash dividend yield is 4.67% based on a closing stock price of $23.15.

Who is the CEO of Isabella Bank Corporation?

The CEO is Jae A. Evans.

What date must shareholders be recorded to receive the dividend from ISBA?

Shareholders need to be recorded by June 28, 2021 to receive the dividend.