NBC Bancorp, Inc. Reports Dividend Increase

Rhea-AI Summary

On December 21, 2022, NBC Bancorp, Inc. (OTCPK:NCXS) declared a semi-annual cash dividend of $0.53 (regular) plus $0.25 (special) per common share, scheduled for payment on January 26, 2023. Shareholders on record as of January 3, 2023, will receive this dividend. The increase marks the second consecutive rise in regular dividends, highlighting Bancorp's strong performance and commitment to rewarding its investors. Established in 1852, Bancorp operates eight branches in New York State, primarily in Albany, Greene, and Schoharie counties.

Positive

• Declared a total cash dividend of $0.78 per share, reinforcing shareholder value.
• Second consecutive increase in regular cash semi-annual dividend, indicating strong financial performance.

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• None.

COXSACKIE, N.Y.--(BUSINESS WIRE)-- NBC Bancorp, Inc. (“Bancorp”), (OTCPK:NCXS), the holding company for The National Bank of Coxsackie, announced that on December 21, 2022, the Board of Directors of Bancorp declared a semi-annual cash dividend of $0.53 (regular) plus $0.25 (special) per common share that will be paid on or about January 26, 2023 to shareholders of record as of January 3, 2023.

Bancorp President and Chief Executive Officer, John A. Balli, stated. “This is the second consecutive increase in the regular cash semi-annual dividend and reflects our strong performance and desire to reward our shareholders.”

NBC Bancorp, Inc. is the parent company of The National Bank of Coxsackie (“Bank”), which celebrated its 170^th anniversary in 2022. The Bank operates eight branches in the New York State counties of Albany, Greene and Schoharie. For more information, please visit www.nbcoxsackie.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005015/en/

Caitlin McCrea, CPA

SVP, Chief Financial Officer

cmccrea@nbcoxsackie.com

Source: National Bank of Coxsackie

FAQ

What is the dividend amount declared by NBC Bancorp on December 21, 2022?

NBC Bancorp declared a total cash dividend of $0.78 per share, consisting of a regular dividend of $0.53 and a special dividend of $0.25.

When is the dividend payment date for NBC Bancorp's declared dividend?

The dividend payment date is scheduled for January 26, 2023.

Who is eligible for the NBC Bancorp dividend announced in December 2022?

Shareholders of record as of January 3, 2023, are eligible to receive the declared dividend.

How often does NBC Bancorp declare dividends?

NBC Bancorp typically declares dividends on a semi-annual basis.

What does the increase in NBC Bancorp's dividend indicate for shareholders?

The increase in dividend reflects the company's strong performance and commitment to returning value to shareholders.