PSB Holdings, Inc. announces semi-annual cash dividend of $0.30 per share

Rhea-AI Summary

PSB Holdings, Inc. (OTCQX: PSBQ) has declared a regular semi-annual cash dividend of $0.30 per share of the Company’s common stock. The dividend is payable January 29, 2024, to shareholders of record as of January 10, 2024, representing a 20.0% increase over the previous dividend. This continues a 59-year tradition of cash dividends to PSB shareholders, including 30 consecutive years of increased cash dividends declared per share. PSB President and CEO Scott M. Cattanach stated that the franchise remains on sound footing, enabling dividend payments to shareholders while expanding their reach in the communities they serve.

WAUSAU, Wis., Dec. 20, 2023 (GLOBE NEWSWIRE) -- PSB Holdings, Inc. (OTCQX: PSBQ), parent company of Peoples State Bank, is pleased to announce that on December 19, 2023, its Board of Directors declared a regular semi-annual cash dividend of $0.30 per share of the Company’s common stock. The dividend is payable January 29, 2024 to shareholders of record as of January 10, 2024 and represents an increase of 20.0% over the $0.25 per share semi-annual cash dividend declared on December 20, 2022. The current dividend continues a 59-year tradition of cash dividends to PSB shareholders including 30 consecutive years of increased cash dividends declared per share.

PSB President and CEO Scott M. Cattanach said, “We are proud of our long history of growing dividend payments to shareholders. Our franchise remains on sound footing enabling us to make dividend payments to shareholders while expanding our reach in the communities we serve. Supporting future growth, our capital base remains strong and substantially exceeds regulatory standards.”

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 eleven full-service banking locations in Marathon, Oneida, Vilas, Portage, Milwaukee and Waukesha counties. 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’s business based, in part, on assumptions made by management and include, without limitation, statements with respect to the potential growth of PSB, 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’s 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 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 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 PSB Holdings, Inc. (PSBQ)?

PSB Holdings, Inc. (PSBQ) declared a regular semi-annual cash dividend of $0.30 per share of the Company’s common stock.

When is the dividend payable to shareholders of PSB Holdings, Inc. (PSBQ)?

The dividend declared by PSB Holdings, Inc. (PSBQ) is payable on January 29, 2024, to shareholders of record as of January 10, 2024.

What is the percentage increase in the dividend declared by PSB Holdings, Inc. (PSBQ) compared to the previous dividend?

The dividend declared by PSB Holdings, Inc. (PSBQ) represents a 20.0% increase over the previous dividend.

How long has PSB Holdings, Inc. (PSBQ) been paying cash dividends to its shareholders?

PSB Holdings, Inc. (PSBQ) has a 59-year tradition of cash dividends to shareholders, including 30 consecutive years of increased cash dividends declared per share.

What did PSB President and CEO Scott M. Cattanach say about the franchise's financial position?

PSB President and CEO Scott M. Cattanach stated that the franchise remains on sound footing, enabling dividend payments to shareholders while expanding their reach in the communities they serve.