PSB Holdings, Inc. announces semi-annual cash dividend of $0.32 per share

Rhea-AI Summary

PSB Holdings, parent of Peoples State Bank, declared a semi-annual cash dividend of $0.32 per share, reflecting a 6.7% increase over the previous dividend of $0.30 per share. The dividend will be paid on July 31, 2024, to shareholders recorded by July 11, 2024. This marks the 31st consecutive year of increased dividends, continuing a 60-year tradition. CEO Scott M. Cattanach credited the company's solid quarterly performance for enabling this dividend. PSB Holdings is traded under the stock symbol PSBQ on the OTCQX Market, serving multiple counties in Wisconsin through its various banking and financial service locations.

Positive

• PSB announced a $0.32 per share dividend, a 6.7% increase from the previous $0.30 per share dividend.
• This marks the 31st consecutive year of increased dividends, showing strong shareholder returns.
• The dividend reflects the company's solid quarterly performance.
• Continues a 60-year tradition of cash dividends.

Negative

• None.

WAUSAU, Wis., June 25, 2024 (GLOBE NEWSWIRE) -- PSB Holdings, Inc. (OTCQX: PSBQ), parent company of Peoples State Bank, is pleased to announce that on June 18, 2024, its Board of Directors declared a regular semi-annual cash dividend of $0.32 per share of the Company’s common stock. The dividend is payable July 31, 2024 to shareholders of record as of July 11, 2024 and represents an increase of 6.7% over the $0.30 per share semi-annual cash dividend declared on December 19, 2023. The current dividend continues a 60-year tradition of cash dividends to PSB shareholders including 31 consecutive years of increased cash dividends declared per share.

PSB President and CEO Scott M. Cattanach said, “As a result of another solid quarter of operating performance, the Board of Directors of PSB Holdings, Inc. announced a $0.32 per share semi-annual cash dividend to holders of common stock. We continue our long history of growing dividend payments to shareholders. We thank our loyal shareholders for their support and look forward to continued profitable operations ahead.”

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 on June 18, 2024?

PSB Holdings declared a semi-annual cash dividend of $0.32 per share on June 18, 2024.

When is the next dividend payment date for PSB Holdings (PSBQ)?

The next dividend payment date is July 31, 2024.

What is the record date for PSB Holdings' (PSBQ) upcoming dividend?

The record date for the upcoming dividend is July 11, 2024.

By how much did PSB Holdings (PSBQ) increase its dividend?

PSB Holdings increased its dividend by 6.7%, from $0.30 to $0.32 per share.

How many years has PSB Holdings (PSBQ) increased its cash dividends?

PSB Holdings has increased its cash dividends for 31 consecutive years.