PSB Holdings, Inc. announces semi-annual cash dividend of $0.23 per share

Rhea-AI Summary

PSB Holdings, Inc. (OTCQX: PSBQ) declared a semi-annual cash dividend of $0.23 per share on December 21, 2021, payable on January 28, 2022, to shareholders of record as of January 7, 2022. This represents a 9.5% increase from last year's $0.21 dividend. The company reported a 17% asset growth and a 26% increase in earnings over the past year, indicating a robust financial position. PSB continues a 57-year tradition of paying cash dividends, with 28 consecutive years of increases.

Positive

• Declared a $0.23 dividend per share, a 9.5% increase from last year.
• Asset growth of 17% over the past year.
• Earnings increased by 26% during the same period.
• Continues a 57-year tradition of cash dividends with 28 consecutive years of increases.

Negative

• None.

WAUSAU, Wis., Dec. 27, 2021 (GLOBE NEWSWIRE) -- PSB Holdings, Inc. (OTCQX: PSBQ), parent company of Peoples State Bank, is pleased to announce that on December 21, 2021, its Board of Directors declared a regular semi-annual cash dividend of $0.23 per share of the Company’s common stock. The dividend is payable January 28, 2022 to shareholders of record as of January 7, 2022 and represents an increase of 9.5% over the $0.21 per share semi-annual cash dividend declared on December 15, 2020. The current dividend continues a 57-year tradition of cash dividends to PSB shareholders including 28 consecutive years of increased cash dividends declared per share.

PSB President and CEO Scott M. Cattanach said, “Our core operations remain robust. Assets have expanded over 17% over the past year while earnings have increased over 26% during the same time frame. The economic environment appears to have stabilized with unemployment levels returning to near pre-pandemic levels. We remain in a strong financial position to support increased dividend payments to our shareholders.”

About PSB Holdings, Inc.

PSB Holdings, Inc. is the parent company of Peoples State Bank. Peoples is a community bank headquartered in Wausau, Wisconsin, serving northcentral and southeastern Wisconsin from ten full-service banking locations in Marathon, Oneida, Vilas, Milwaukee and Waukesha counties and a loan production office in Stevens Point, Wisconsin. Peoples also provides investment and insurance products, along with retirement planning services, through Peoples Wealth Management, a division of Peoples. PSB Holdings, Inc. is traded under the stock symbol PSBQ on the OTCQX Market. More information about PSB, its management, and its financial performance may be found at www.psbholdingsinc.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations, estimates and projections about PSB Holdings’ business based, in part, on assumptions made by management and include, without limitation, statements with respect to the potential growth of PSB Holdings, its future profits, expected stock repurchase levels, future dividend rates, future interest rates, and the adequacy of its capital position. Forward-looking statements can be affected by known and unknown risks, uncertainties, and other factors, including, but not limited to, strength of the economy, the effects of government policies, including interest rate policies, risks associated with the execution of PSB Holdings’ vision and growth strategy, including with respect to current and future M&A activity, and risks associated with global economic instability relating to the COVID-19 pandemic and its effect on PSB Holdings, and Peoples, and their customers, and other risks. The forward-looking statements in this press release speak only as of the date on which they are made and PSB Holdings does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.

Investor Relations Contact
PSB Holdings, Inc.
1905 Stewart Avenue
Wausau, WI 54401
888.929.9902
InvestorRelations@bankpeoples.com

FAQ

What is the dividend amount declared by PSBQ?

PSBQ declared a dividend of $0.23 per share.

When is the dividend payable for PSBQ?

The dividend is payable on January 28, 2022.

What was the percentage increase in the dividend from last year?

The dividend increased by 9.5% from $0.21 last year.

How long has PSB Holdings been paying dividends?

PSB Holdings has a tradition of paying dividends for 57 years.

What is the record date for the PSBQ dividend?

The record date for the dividend is January 7, 2022.