PB Financial Corporation Declares Third-Quarter, 2023 Dividend

Rhea-AI Summary

PB Financial Corporation (OTCQX:PBNC) announced a quarterly cash dividend of $0.50 per share on common stock outstanding, representing a 61.29% increase from the previous quarter. The dividend is payable on August 28, 2023, and the annual dividend is $2.00 with a yield of 5.24%. The company has consistently increased its cash dividend each quarter since 2012, demonstrating a commitment to enhancing shareholder value.

Positive

• PB Financial Corporation (OTCQX:PBNC) approved a quarterly cash dividend of $0.50 per share, a 61.29% increase from the previous quarter.
• The annual dividend is $2.00 with a yield of 5.24% based on the closing price on July 6, 2023.

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• None.

ROCKY MOUNT, NC / ACCESSWIRE / July 6, 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 $0.50 per share on common stock outstanding to shareholders of record at the close of business on August 7, 2023. The dividend is payable August 28, 2023. This is an increase of approximately 61.29% from the dividend paid during the 3rd quarter of 2022. This represents a $2.00 dividend on an annual basis and a yield of 5.24% (based on closing price on July 6, 2023, of $38.15/share).

Whitehurst commented, "This represents our 47^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, 2023, PB Financial Corporation had total assets of $879.1 million, loans of $713.1 million and total deposits of $698.2 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, 2023 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/766052/PB-Financial-Corporation-Declares-Third-Quarter-2023-Dividend

FAQ

What is the dividend per share approved by PB Financial Corporation?

PB Financial Corporation approved a quarterly cash dividend of $0.50 per share.

What is the annual dividend and yield?

The annual dividend is $2.00 with a yield of 5.24% based on the closing price on July 6, 2023.

Has PB Financial Corporation consistently increased its cash dividend?

Yes, PB Financial Corporation has consistently increased its cash dividend each quarter since the 1st quarter of 2012.

What is the record date and payment date for the dividend?

The record date for the dividend is August 7, 2023, and the payment date is August 28, 2023.