Isabella Bank Corporation Announces Second Quarter 2024 Dividend

Rhea-AI Summary

Isabella Bank (OTCQX:ISBA) has declared a second-quarter cash dividend of $0.28 per common share, as announced on May 30, 2024. The dividend will be payable on June 28, 2024, to shareholders on record as of June 26, 2024. With a closing stock price of $19.00 per share on May 29, 2024, the annualized dividend yield stands at 5.89%. CEO Jerome E. Schwind emphasized that this dividend highlights the company's commitment to enhancing shareholder value through strategic initiatives and consistent financial performance.

Positive

• Declared a second-quarter cash dividend of $0.28 per common share.
• Dividend to be payable on June 28, 2024.
• Annualized dividend yield of 5.89%, calculated with a stock price of $19.00 per share.
• CEO emphasizes commitment to shareholder value through strategic initiatives and strong financial performance.

Negative

• The dividend announcement does not provide any new information on earnings growth or revenue increases.
• No mention of potential risks or challenges facing the company in future quarters.

MT. PLEASANT, Mich., May 30, 2024 /PRNewswire/ -- Isabella Bank Corporation (OTCQX:ISBA) today announced its Board of Directors declared a second-quarter cash dividend of $0.28 per common share at its regular meeting on May 29, 2024.  The dividend will be payable June 28, 2024 to shareholders of record as of June 26, 2024.  Based on ISBA's closing stock price of $19.00 per share as of May 29, 2024, the annualized cash dividend yield is 5.89%.

"I am pleased to announce the second quarter cash dividend of $0.28.  This dividend is a reflection of our continued commitment to building shareholder value," said Jerome E. Schwind, President and Chief Executive Officer.  "Our constant effort to implement strategic initiatives and financial performance has enabled us to continue to provide an attractive return on shareholder investment, which is evidenced by the dividend yield."

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 its customers' and communities' local banking needs for over 120 years.  The Bank offers personal and commercial lending and deposit products, as well as investment, trust, and estate planning services.  The Bank has 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. 

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SOURCE Isabella Bank Corporation

FAQ

What is the dividend announced by Isabella Bank for the second quarter of 2024?

Isabella Bank declared a second-quarter cash dividend of $0.28 per common share.

When will Isabella Bank pay the second-quarter dividend for 2024?

The dividend will be payable on June 28, 2024.

What is the dividend yield for Isabella Bank 's second-quarter dividend?

The annualized dividend yield is 5.89%, based on a closing stock price of $19.00 per share on May 29, 2024.

Who is eligible to receive Isabella Bank 's second-quarter dividend for 2024?

Shareholders of record as of June 26, 2024, are eligible to receive the dividend.

What did Isabella Bank 's CEO say about the second-quarter dividend?

CEO Jerome E. Schwind stated that the dividend reflects the company's commitment to building shareholder value through strategic initiatives and financial performance.