OVBC Announces Cash Dividend

Rhea-AI Summary

On October 20, 2020, Ohio Valley Banc Corp. (OVBC) declared a cash dividend of $0.21 per common share, payable on November 10, 2020. The record date for shareholders is October 30, 2020. OVBC has maintained this consistent dividend for over a decade, demonstrating resilience during the pandemic. CEO Tom Wiseman emphasized the importance of community support, encouraging shareholders to invest locally. Additionally, OVBC will continue its loan payment deferral program for customers affected by the pandemic, allowing for up to 6 months of deferred payments.

Positive

• Consistent cash dividend of $0.21 per share for over a decade.
• Encouragement for shareholders to support local businesses.

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• None.

GALLIPOLIS, Ohio, Oct. 22, 2020 /PRNewswire/ -- On October 20, 2020, Ohio Valley Banc Corp. [Nasdaq: OVBC] Board of Directors declared a cash dividend of $0.21 per common share payable on November 10, 2020, to shareholders of record as of the close of business on October 30, 2020. For more than a decade, OVBC has maintained a consistent, regular quarterly dividend of $0.21 per common share.

"Though the pandemic has presented its challenges, we have been steadfast in our desire to provide a safe environment for banking and financial assistance," said Tom Wiseman, OVBC chairman of the board and CEO. "Due to our planning, we were able to continue to offer this steady dividend to our loyal shareholders in a time when extra dollars in pockets can make a definite impact in our small towns. It is our hope that our shareholders will use this dividend to buy from local businesses or donate to local charities. We must remember to put Community First now more than ever."

In an effort to further assist its community, Wiseman noted that Ohio Valley Bank plans to continue to offer an additional 3-month deferral on loan payments to its customers with eligible loans who are negatively impacted by the pandemic. This is in addition to a similar offer available last spring, giving customers a possible 6 months of deferred payments during 2020. Details can be obtained at any Ohio Valley Bank office.  

Ohio Valley Banc Corp. is based in Gallipolis, Ohio. The primary subsidiaries of the company are: Ohio Valley Bank and Loan Central.  Ohio Valley Bank is an FDIC-insured, state member bank of the Federal Reserve operating 15 offices in Ohio and West Virginia. Loan Central, specializing in tax preparation and loans, is a finance company with six offices in southern Ohio. Ohio Valley Banc Corp. stock is traded on The NASDAQ Global Market under the symbol OVBC. For more information, visit www.ovbc.com or www.myloancentral.com.

Contact: Scott Shockey or Bryna Butler, (740) 446-2631, 1-800-468-6682

View original content:http://www.prnewswire.com/news-releases/ovbc-announces-cash-dividend-301158023.html

SOURCE Ohio Valley Banc Corp.

FAQ

What is the dividend amount declared by OVBC in October 2020?

Ohio Valley Banc Corp. declared a cash dividend of $0.21 per common share.

When will the OVBC dividend be paid?

The dividend will be payable on November 10, 2020.

What is the record date for the OVBC dividend?

Shareholders of record will be noted as of October 30, 2020.

How long has OVBC maintained its dividend?

Ohio Valley Banc Corp. has maintained a dividend of $0.21 per share for over a decade.

What support is OVBC offering to customers impacted by the pandemic?

OVBC is offering a 3-month deferral on loan payments for eligible customers affected by the pandemic.