PEOPLES FINANCIAL CORPORATION ANNOUNCES A REGULAR CASH DIVIDEND AND THE PAYMENT OF A SPECIAL DIVIDEND

Rhea-AI Summary

Peoples Financial (PFBX) has declared a regular semi-annual cash dividend of $0.18 per common share and a special dividend of $0.08 per share, totaling $0.26 per share, payable on December 13, 2024, to shareholders of record as of December 09, 2024. The company, founded in 1896, operates The Peoples Bank with $814 million in total assets and 18 bank facilities along the Mississippi Gulf Coast. The company achieved its third-best year of earnings and was included in the 2024 OTCQX Best 50 ranking.

Positive

• Declaration of $0.18 regular semi-annual dividend plus $0.08 special dividend
• Third best year of earnings in company history
• Recognition in 2024 OTCQX Best 50 ranking
• Strong asset position with $814 million in total assets

Negative

• None.

BILOXI, Miss., Nov. 26, 2024 /PRNewswire/ -- Peoples Financial Corporation (the "Company") (OTCQX Best Market: PFBX), parent of The Peoples Bank (the "Bank"), announced the declaration of a regular semi-annual cash dividend of $0.18 per common share and a special dividend of $0.08 per common share for a total payable of $0.26 per share on December 13, 2024 to shareholders of record as of December 09, 2024.

"We are pleased with our continuing financial improvement, to announce a regular and special dividend to our shareholders," said Chevis C. Swetman, Chairman and CEO of the holding company and the bank.  "We remain dedicated to returning earnings to our shareholders," he added. 

About the Company
Founded in 1896, with $814 million in total assets as of September 30, 2024, The Peoples Bank operates 18 bank facilities along the Mississippi Gulf Coast in Hancock, Harrison, Jackson and Stone counties. In addition to offering a comprehensive range of retail and commercial banking services, the Bank also operates a trust and investment services department that has provided customers with financial, estate and retirement planning services since 1936.

The Company just experienced its third best year of earnings ever and was recently recognized as part of the 2024 OTCQX Best 50, a ranking of the top-performing OTCQX companies in the prior calendar year.

Peoples Financial Corporation's common stock is listed on the OTCQX Best Market under the symbol PFBX. Additional information is available on the Internet at the Company's website, www.thepeoples.com, and at the website of the Securities and Exchange Commission ("SEC"), www.sec.gov.

This news release reflects industry conditions, Company performance and financial results and contains "forward-looking statements,' which may include forecasts of our financial results and condition, expectations for our operations and businesses, and our assumptions for those forecasts and expectations. Do not place undue reliance on forward-looking statements. These forward-looking statements are subject to a number of risk factors and uncertainties which could cause the Company's actual results and experience to differ materially from the anticipated results and expectation expressed in such forward-looking statements.

Factors that could cause our actual results to differ materially from our forward-looking statements are described under "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Regulation and Supervision" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and in other documents subsequently filed by the Company with the Securities and Exchange Commission, available at the SEC's website and the Company's website, each of which are referenced above. To the extent that statements in this news release relate to future plans, objectives, financial results or performance by the Company, these statements are deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are generally identified by use of words such as "may," "believe," "expect," "anticipate," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology.

Forward-looking statements represent management's beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements. All information is as of the date of this news release. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.

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SOURCE Peoples Financial Corporation

FAQ

What is the total dividend amount announced by Peoples Financial (PFBX) for December 2024?

Peoples Financial announced a total dividend of $0.26 per share, consisting of a $0.18 regular semi-annual dividend and a $0.08 special dividend.

When is the dividend payment date for PFBX's December 2024 dividend?

The dividend will be paid on December 13, 2024, to shareholders of record as of December 09, 2024.

What is the current asset size of Peoples Financial (PFBX)?

As of September 30, 2024, Peoples Financial had total assets of $814 million.

How did Peoples Financial (PFBX) perform in terms of earnings in 2024?

The company reported its third-best year of earnings ever and was included in the 2024 OTCQX Best 50 ranking.