PB Financial Corporation Declares Second-Quarter, 2022 Dividend

Rhea-AI Summary

PB Financial Corporation (OTCQX:PBNC) declared a quarterly cash dividend of $0.29 per share, reflecting a 16% increase from the previous year. Shareholders on record by May 11, 2022, will receive the dividend on May 26, 2022. This marks the 42nd consecutive quarterly dividend since the start of their dividend program in 2012, showcasing a commitment to enhancing shareholder value. With total assets of $743.9 million as of March 31, 2022, the company maintains a dividend yield of approximately 3.01%.

Positive

• Quarterly dividend increased by 16% to $0.29 per share.
• 42 consecutive quarterly cash dividends demonstrate consistent financial performance.
• Annualized dividend of $1.16 per share indicates strong shareholder income.

Negative

• None.

ROCKY MOUNT, NC / ACCESSWIRE / May 2, 2022 / 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 $0.29 per share on common stock outstanding to shareholders of record at the close of business on May 11, 2022. The dividend is payable May 26, 2022. This is an increase of approximately 16% from the dividend paid during the 2^nd quarter of 2021. This represents a $1.16 per share dividend on an annualized basis and a dividend yield of approximately 3.01% (based on closing price on April 29, 2022 of $38.50/share).

Whitehurst commented, "This represents our 42^nd consecutive quarterly cash dividend. Our consistent financial performance has allowed us to increase our cash dividend each quarter since we began paying dividends in the 1^st quarter of 2012. The consistent increase in our cash dividend continues to be an important part of our strategy to enhance shareholder value. We believe this strategy sets us apart from other community banks."

Providence Bank is a state-chartered community bank headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina, with branches in Rocky Mount, Tarboro, Nashville, Wilson and Raleigh. As of March 31, 2022, PB Financial Corporation had total assets of $743.9 million, loans of $557.0 million and total deposits of $603.3 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 March 31, 2022 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/699792/PB-Financial-Corporation-Declares-Second-Quarter-2022-Dividend

FAQ

What is the dividend amount declared by PB Financial Corporation?

The dividend amount declared is $0.29 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on May 26, 2022.

What is the dividend yield for PB Financial Corporation?

The dividend yield is approximately 3.01% based on the closing price on April 29, 2022.

How many consecutive quarterly dividends has PB Financial Corporation paid?

PB Financial Corporation has paid 42 consecutive quarterly dividends.