PB Financial Corporation Declares Third-Quarter, 2021 Dividend

Rhea-AI Summary

PB Financial Corporation declared a quarterly cash dividend of $0.26 per share, reflecting a 23.81% increase from the previous year. Shareholders of record by August 2, 2021 will receive the dividend payable on August 23, 2021. This marks the 39th consecutive quarterly dividend paid since 2012. The company reported total assets of $626.1 million, loans of $501.7 million, and total deposits of $495.5 million as of June 30, 2021, presenting a 2.98% yield based on the closing price of $34.86 per share on July 6, 2021.

Positive

• Quarterly cash dividend increased by 23.81%.
• 39th consecutive quarterly cash dividend paid.
• 2.98% dividend yield based on the stock's closing price.
• Consistent financial performance allowing for ongoing dividend increases.

Negative

• None.

ROCKY MOUNT, NC / ACCESSWIRE / July 7, 2021 / 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 $0.26 per share on common stock outstanding to shareholders of record at the close of business on August 2, 2021. The dividend is payable August 23, 2021. This is an increase of approximately 23.81% from the dividend paid during the 3rd quarter of 2020. This represents a $1.04 dividend on an annual basis and a yield of 2.98% (based on closing price on July 6, 2021, of $34.86/share).

Whitehurst commented, "This represents our 39^th 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. This increase in our quarterly cash dividend is part of our continued strategy to enhance shareholder value which we believe sets us apart from other community banks."

PB Financial Corporation is headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina. As of June 30, 2021, PB Financial Corporation had total assets of $626.1 million, loans of $501.7 million and total deposits of $495.5 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 June 30, 2021 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/654580/PB-Financial-Corporation-Declares-Third-Quarter-2021-Dividend

FAQ

What is the dividend amount declared by PB Financial Corporation?

PB Financial Corporation declared a quarterly cash dividend of $0.26 per share.

When is the PB Financial Corporation dividend payable?

The dividend is payable on August 23, 2021.

What is the dividend yield for PB Financial Corporation shareholders?

The dividend yield is 2.98% based on the closing price on July 6, 2021.

How many consecutive dividends has PB Financial Corporation paid?

PB Financial Corporation has paid 39 consecutive quarterly dividends.