Isabella Bank Corporation Announces Third Quarter 2020 Dividend

Rhea-AI Summary

Isabella Bank Corporation (OTCQX: ISBA) declared a third-quarter cash dividend of $0.27 per common share, reflecting a 3.85% increase from the previous year. The dividend is payable on September 30, 2020, to shareholders of record as of September 28, 2020. With a closing stock price of $16.30 on August 31, 2020, the annualized cash dividend yield stands at 6.63%. The CEO emphasized the company's financial strength and commitment to supporting communities amid COVID-19 challenges.

Positive

• Dividend increase of 3.85% from Q3 2019.
• Annualized cash dividend yield of 6.63% provides attractive returns to shareholders.
• Ongoing support for businesses and families during challenging times.

Negative

• None.

MT. PLEASANT, Mich., Sept. 1, 2020 /PRNewswire/ -- Isabella Bank Corporation (OTCQX:ISBA) announced today that the Board of Directors of the Corporation declared a third quarter cash dividend of $0.27 per common share at its regular meeting held on August 26, 2020.  The dividend will be payable on September 30, 2020 to shareholders of record as of September 28, 2020.  Based on ISBA's closing stock price of $16.30 per share as of August 31, 2020, the annualized cash dividend yield was 6.63%.

"I am pleased to announce our Board approved a dividend of $0.27 per share for the third quarter which represents a 3.85% increase from the third quarter of 2019.  Our continued financial strength and outlook provides us the ability to reward shareholders with an attractive return on their investment as evidenced by the 6.63% annualized yield," commented Jae A. Evans, President and Chief Executive Officer of Isabella Bank Corporation. "We continue to assist businesses and families with their financial needs during these challenging times while preparing for the future of our organization.  We are carefully monitoring the potential impact COVID-19 may have on our business and are prepared to take any necessary steps to maintain our strong capital position."

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 117 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 30 banking locations throughout seven Mid-Michigan counties: Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw. The Corporation has been recognized on the Detroit Free Press list of "Top Workplaces".

For more information about Isabella Bank Corporation, visit the Investors 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.

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SOURCE Isabella Bank Corporation

FAQ

What is Isabella Bank Corporation's dividend amount for Q3 2020?

The dividend amount is $0.27 per common share.

When will the dividend be paid to shareholders?

The dividend will be payable on September 30, 2020.

What is the dividend yield for ISBA stock?

The annualized cash dividend yield is 6.63%.

What factors is Isabella Bank monitoring related to COVID-19?

The company is monitoring the potential impacts of COVID-19 on its business and is prepared to maintain its strong capital position.