OVBC Announces Cash Dividend

Rhea-AI Summary

On October 19, 2021, Ohio Valley Banc Corp. (OVBC) declared a cash dividend of $0.21 per common share, payable on November 10, 2021. Shareholders on record as of October 29, 2021 will benefit from this consistent quarterly dividend. In addition, the company opened a new branch in August and launched Race Day Mortgage, an online-only subsidiary for consumer direct mortgages. These developments underscore OVBC's commitment to growth and community banking in the Mason County area.

Positive

• Declared a consistent quarterly dividend of $0.21 per share.
• Opened a new branch to expand footprint and resources.
• Launched Race Day Mortgage, enhancing digital service offering.

Negative

• None.

GALLIPOLIS, Ohio, Oct. 20, 2021 /PRNewswire/ -- On October 19, 2021, Ohio Valley Banc Corp. [Nasdaq: OVBC] Board of Directors declared a cash dividend of $0.21 per common share payable on November 10, 2021, to shareholders of record as of the close of business on Oct. 29, 2021. OVBC continues to maintain a consistent, regular quarterly dividend of $0.21 per common share.

Chairman and CEO Tom Wiseman said, "It has been quite an active time for the company. We were thrilled to open a new branch, our OVB Point Pleasant North Office, in August. This branch will increase our footprint in the Mason County area and provide additional resources as well as a convenient option for our customers on the go with the drive-thru only experience. We also officially opened Race Day Mortgage, Inc., a new subsidiary of Ohio Valley Bank. Race Day is an online-only consumer direct mortgage company providing services through convenient mobile and digital channels. The growth the company has experienced is part of our commitment to remain an independent, community bank for years to come. The support of our shareholders means so much to us as we continue to move forward and as always, put our Community First."

Ohio Valley Banc Corp. is based in Gallipolis, Ohio. The primary subsidiaries of the company are: Ohio Valley Bank, Loan Central, and Race Day Mortgage. Ohio Valley Bank is an FDIC-insured, state member bank of the Federal Reserve operating 16 offices in Ohio and W.Va. Loan Central, specializing in tax preparation and loans, is a finance company with six offices in southern Ohio. Race Day Mortgage is an online-only, consumer direct finance company. Ohio Valley Banc Corp. stock is traded on The NASDAQ Global Market under the symbol OVBC. For more information, visit www.ovbc.com.

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

View original content:https://www.prnewswire.com/news-releases/ovbc-announces-cash-dividend-301405200.html

SOURCE Ohio Valley Banc Corp.

FAQ

What is the dividend amount declared by OVBC?

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

When is the dividend payable for OVBC?

The dividend is payable on November 10, 2021.

What is the record date for the OVBC dividend?

The record date for the dividend is October 29, 2021.

What new initiatives has OVBC announced?

OVBC announced the opening of a new branch and the launch of Race Day Mortgage.

How does OVBC support its shareholders?

OVBC maintains regular dividend payments and focuses on community banking growth.