PB Financial Corporation Declares Fourth-Quarter, 2022 Dividend

Rhea-AI Summary

PB Financial Corporation (OTCQX:PBNC) has announced a quarterly cash dividend of $0.35 per share, marking a 29.63% increase from last year's fourth quarter. Shareholders of record by November 7, 2022 will receive the dividend on November 25, 2022. This dividend reflects the company's commitment to enhancing shareholder value, having paid dividends consistently for 44 quarters and achieving a total annual dividend of $1.40, resulting in a yield of 3.45% based on the closing price of $40.55.

Positive

• Quarterly cash dividend increased by 29.63% from last year.
• 44 consecutive quarterly cash dividends demonstrate consistent financial performance.
• Total assets of $780.2 million as of September 30, 2022.

Negative

• None.

ROCKY MOUNT, NC / ACCESSWIRE / October 21, 2022 / 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 $0.35 per share on common stock outstanding to shareholders of record at the close of business on November 7, 2022. The dividend is payable November 25, 2022. This is an increase of approximately 29.63% from the dividend paid during the 4th quarter of 2021. This represents a $1.40 dividend on an annual basis and a yield of 3.45% (based on closing price on October 20, 2022, of $40.55/share).

Whitehurst commented, "This represents our 44th consecutive quarterly cash dividend. The Company's consistent financial performance has allowed us to increase our cash dividend every quarter since we began paying dividends, representing 11 consecutive years. Our original shareholders will have received over $6 per share in cash dividends, which is more than half of their original purchase price of $11 per share. This continued increase in our cash dividend is part of our long-term strategy to enhance shareholder value."

PB Financial Corporation is headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina. As of September 30, 2022, PB Financial Corporation had total assets of $780.2 million, loans of $617.3 million and total deposits of $616.5 million.

www.pbknc.com

For more information, contact:

Ted E. Whitehurst, President and CEO
252-467-2990; twhitehurst@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, 2022 as presented is unaudited.

SOURCE: PB Financial Corporation

View source version on accesswire.com:
https://www.accesswire.com/721587/PB-Financial-Corporation-Declares-Fourth-Quarter-2022-Dividend

FAQ

What is the PB Financial Corporation dividend amount for Q4 2022?

The dividend amount for Q4 2022 is $0.35 per share.

When is the PB Financial Corporation dividend payable?

The dividend is payable on November 25, 2022.

What was the percentage increase of the PB Financial Corporation dividend from last year?

The dividend increased by approximately 29.63% from the 4th quarter of 2021.

How long has PB Financial Corporation been paying dividends?

PB Financial Corporation has been paying dividends for 11 consecutive years.