PB Financial Corporation Declares First-Quarter, 2023 Dividend

Rhea-AI Summary

PB Financial Corporation (OTCQX:PBNC) has announced a quarterly cash dividend of $0.40 per share, reflecting a 42.86% increase from the previous year. Shareholders of record as of February 7, 2023, will receive this dividend on February 23, 2023, equating to an annual dividend of $1.60 or a 3.75% yield based on the January 27 closing price of $42.625. This marks the 45th consecutive quarterly cash dividend for the company, highlighting its consistent financial performance since 2012. As of December 31, 2022, PB Financial had total assets of $849.2 million.

Positive

• Quarterly cash dividend increased by 42.86%.
• 45th consecutive quarterly cash dividend paid.
• Annual dividend yield of 3.75% based on recent closing price.

Negative

• None.

ROCKY MOUNT, NC / ACCESSWIRE / January 30, 2023 / Ted E. Whitehurst, President and CEO of PB Financial Corporation (OTCQX:PBNC), the holding company for Providence Bank, announced today that the Board of Directors approved a quarterly cash dividend of $0.40 per share on common stock outstanding to shareholders of record at the close of business on February 7, 2023. The dividend is payable February 23, 2023. This is an increase of 42.86% from the dividend paid during the 1st quarter of 2022. This represents a $1.60 dividend on an annual basis and a yield of 3.75% (based on the closing price on January 27, 2023 of $42.625/share).

Whitehurst commented, "This represents our 45^th consecutive quarterly cash dividend. Our consistent financial performance has allowed us to increase our cash dividend every quarter since we began paying dividends in the 1^st quarter of 2012. Increasing our cash dividend continues to be an important part of our strategy to enhance shareholder value."

PB Financial Corporation is headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina, with branches in Rocky Mount, Tarboro, Nashville, Wilson and Raleigh. As of December 31, 2022, PB Financial Corporation had total assets of $849.2 million, loans of $687.7 million and total deposits of $674.0 million.

For more information, contact:

Ted E. Whitehurst, President and CEO
252-467-2990; twhitehurst@pbknc.com

www.pbknc.com

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding PB Financial Corporation. Those statements may include but are not limited to statements regarding the Company's plans, objectives, expectations and intentions and other statements identified by words such as "believes," "considers," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects," "would be," and similar expressions. These statements are based upon current beliefs and expectations of management of PB Financial Corporation and are subject to significant risks and uncertainties. Actual or future results or events may differ from those set forth in the forward-looking statements. PB Financial Corporation does not undertake to update any forward-looking statements in this press release. The information as of and for the quarter ended December 31, 2022 as presented is unaudited.

SOURCE: PB Financial Corporation

View source version on accesswire.com:
https://www.accesswire.com/737265/PB-Financial-Corporation-Declares-First-Quarter-2023-Dividend

FAQ

What is the dividend amount declared by PB Financial Corporation?

PB Financial Corporation has declared a quarterly cash dividend of $0.40 per share.

When will the dividend for PB Financial Corporation be paid?

The dividend will be paid on February 23, 2023.

What is the yield percentage of the latest dividend for PBNC?

The latest dividend results in a yield of 3.75% based on the closing price.

What is the significance of PB Financial Corporation's dividend increase?

The increase signifies the company's ongoing commitment to enhance shareholder value and consistent financial performance.