PB Financial Corporation Declares Third-Quarter, 2024 Dividend

Rhea-AI Summary

PB Financial (OTCQX:PBNC), the parent company of Providence Bank, announced a quarterly cash dividend of $0.54 per share, a 8% increase from Q3 2023. The dividend will be paid on August 23, 2024, to shareholders recorded by August 2, 2024. This results in an annual dividend of $2.16 and a yield of 5.35%, based on a stock price of $40.35 as of July 10, 2024. This marks the 51st consecutive quarterly dividend since dividends began in Q1 2012. The company, headquartered in Rocky Mount, NC, reported total assets of $1.261 billion, loans of $1.066 billion, and deposits of $1.051 billion as of June 30, 2024.

Positive

• Quarterly dividend increased by 8% from Q3 2023.
• High annual dividend yield of 5.35%.
• 51st consecutive quarterly dividend since Q1 2012.
• Strong financial standing with total assets of $1.261 billion.

Negative

• None.

ROCKY MOUNT, NC / ACCESSWIRE / July 11, 2024 / 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 $0.54 per share on common stock outstanding to shareholders of record at the close of business on August 2, 2024. The dividend is payable August 23, 2024. This is an increase of approximately 8.00% from the dividend paid during the 3rd quarter of 2023. This represents a $2.16 dividend on an annual basis and a yield of 5.35% (based on closing price on July 10, 2024, of $40.35/share).

Whitehurst commented, "This represents our 51^st 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, 2024, PB Financial Corporation had total assets of $1.261 billion, loans of $1.066 billion and total deposits of $1.051 billion.

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, 2024 as presented is unaudited.

For more information, contact:
Ted E. Whitehurst, President and CEO
252-467-2990; twhitehurst@pbknc.com

SOURCE: PB Financial Corp

View the original press release on accesswire.com

FAQ

What is the dividend per share for PB Financial in Q3 2024?

The dividend per share for PB Financial (OTCQX:PBNC) in Q3 2024 is $0.54.

When is the record date for PB Financial 's Q3 2024 dividend?

The record date for PB Financial 's Q3 2024 dividend is August 2, 2024.

What is the payment date for PB Financial 's Q3 2024 dividend?

The payment date for PB Financial 's Q3 2024 dividend is August 23, 2024.

How much has PB Financial 's dividend increased from Q3 2023?

PB Financial 's dividend has increased by approximately 8% from Q3 2023.

What is the annual dividend yield for PB Financial based on the closing price on July 10, 2024?

The annual dividend yield for PB Financial based on the closing price on July 10, 2024, is 5.35%.