Richmond Mutual Bancorporation, Inc. Announces Quarterly Dividend

Rhea-AI Summary

Richmond Mutual Bancorporation (NASDAQ: RMBI) announced a cash dividend of $0.07 per share, reflecting a 40.0% increase from the previous $0.05 declared in November 2020. This dividend will be payable on March 18, 2021, to stockholders of record as of March 4, 2021. The company operates through First Bank Richmond, providing community-oriented financial services across multiple locations in Indiana and Ohio.

Positive

• Dividend increased by 40.0% to $0.07 per share.
• Demonstrates company confidence and financial strength.

Negative

• None.

RICHMOND, Ind., Feb. 18, 2021 /PRNewswire/ -- Richmond Mutual Bancorporation, Inc. (NASDAQ: RMBI) announced today that its Board of Directors has declared a cash dividend on Richmond Mutual Bancorporation common stock of $0.07 per share, which represents a 40.0% increase over the $0.05 per share quarterly dividend declared in November 2020.  The cash dividend will be payable on March 18, 2021 to stockholders of record as of the close of business on March 4, 2021. 

About Richmond Mutual Bancorporation, Inc.

Richmond Mutual Bancorporation, Inc., headquartered in Richmond, Indiana, is the holding company for First Bank Richmond, a community-oriented financial institution offering traditional financial and trust services within its local communities through its eight locations in Richmond, Centerville, Cambridge City and Shelbyville, Indiana, its five locations in Sidney, Piqua and Troy, Ohio and its loan production office in Columbus, Ohio.

Forward-Looking Statements

Statements in this press release that are not historical facts may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements often include words such as "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements, by their nature, are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated in such statements, including the effect of the COVID-19 pandemic on the Company's credit quality and business operations, as well as its impact on general economic and financial market conditions and other uncertainties such as the extent and duration of the impact of the pandemic on public health, the U.S. and global economies, and on consumer and corporate customers, employment levels and market liquidity.  In addition, forward-looking statements also are subject to legislative changes; changes in policies by regulatory agencies; fluctuations in interest rates; the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for loan losses; the Company's ability to access cost-effective funding; fluctuations in real estate values and both residential and commercial real estate market conditions; demand for loans and deposits in the Company's market area; changes in management's business strategies; changes in the regulatory and tax environments in which the Company operates; and other factors set forth in the Company's filings with the SEC. 

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SOURCE Richmond Mutual Bancorporation, Inc.

FAQ

What is the dividend amount announced by Richmond Mutual Bancorporation?

The announced dividend amount is $0.07 per share.

When will Richmond Mutual Bancorporation's dividend be paid?

The dividend will be payable on March 18, 2021.

What was the previous dividend amount before the increase?

The previous dividend amount was $0.05 per share.

What is the record date for the upcoming dividend payment?

The record date for the dividend payment is March 4, 2021.