PB Financial Corporation Declares Fourth-Quarter, 2020 Dividend

Rhea-AI Summary

PB Financial Corporation (OTCQX:PBNC) has declared a quarterly cash dividend of $0.22 per share for shareholders of record by November 2, 2020. The dividend, payable on November 23, 2020, marks a 22.22% increase from the previous year's fourth-quarter dividend. This equates to an annualized dividend of $0.88 and a yield of 2.93% based on the October 23 closing price of $30.00 per share. This is the 36th consecutive quarterly dividend, reflecting the company's commitment to enhancing shareholder value.

Positive

• Quarterly cash dividend increased by 22.22% from previous year.
• 36 consecutive quarterly dividends paid to shareholders.
• Annualized dividend of $0.88 provides a yield of 2.93%.

Negative

• None.

ROCKY MOUNT, NC / ACCESSWIRE / October 26, 2020 / Ted E. Whitehurst, President and CEO of PB Financial Corporation (OTCQX:PBNC), the holding company for Providence Bank, announced today the Board of Directors approved a quarterly cash dividend of $0.22 per share on common stock outstanding to shareholders of record at the close of business on November 2, 2020. The dividend is payable November 23, 2020. This is an increase of approximately 22.22% from the dividend paid during the 4th quarter of 2019. This represents a $0.88 dividend on an annual basis and a yield of 2.93% (based on closing price on October 23, 2020, of $30.00/share).

Whitehurst commented, "This represents our 36th 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. This represents nine consecutive years that not only have we paid, but also increased, the quarterly cash dividend. This continued increase in our cash dividend is part of our strategy to enhance shareholder value."

PB Financial Corporation is headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina. As of September 30, 2020, PB Financial Corporation had total assets of $576.0 million, loans of $451.6 million and total deposits of $439.9 million.

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 September 30, 2020 as presented is unaudited.

For more information, contact:

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

SOURCE: PB Financial Corporation

View source version on accesswire.com:
https://www.accesswire.com/612264/PB-Financial-Corporation-Declares-Fourth-Quarter-2020-Dividend

FAQ

What is the dividend amount declared by PB Financial Corporation?

PB Financial Corporation declared a quarterly cash dividend of $0.22 per share.

When will the dividend be paid to shareholders of PBNC?

The dividend will be payable on November 23, 2020.

What was the percentage increase in PB Financial's dividend?

The dividend increased by approximately 22.22% compared to the fourth quarter of 2019.

What is the annualized dividend amount for PB Financial Corporation?

The annualized dividend amounts to $0.88 per share.

What is the dividend yield for shareholders of PBNC?

The dividend yield is 2.93% based on the closing price of $30.00 per share on October 23, 2020.