Richmond Mutual Bancorporation, Inc. Announces Special Dividend

Rhea-AI Summary

Richmond Mutual Bancorporation (NASDAQ: RMBI) has declared a special cash dividend of $0.50 per share. Chairman Garry Kleer stated that this decision aligns with sound capital management strategies, enabling the company to preserve its growth potential. The dividend will be paid on May 5, 2021, to stockholders on record as of April 21, 2021. This announcement reflects the company's commitment to returning value to shareholders while maintaining financial stability amid fluctuating economic conditions.

Positive

• Declaration of a special cash dividend of $0.50 per share, enhancing shareholder value.
• Dividend payment indicates strong capital management and confidence in growth potential.

Negative

• None.

RICHMOND, Ind., April 7, 2021 /PRNewswire/ -- Richmond Mutual Bancorporation, Inc. (NASDAQ: RMBI) announced today that its Board of Directors has declared a special cash dividend on Richmond Mutual Bancorporation common stock of $0.50 per share.  In making the announcement, Garry Kleer, Chairman, President and Chief Executive Officer, said "We are pleased to announce the payment of a $0.50 per share special dividend.  While the determination to pay any dividend depends on a variety of factors, the Board has determined that the payment of the special dividend is consistent with sound capital management strategies while preserving the Company's ability to grow."

The cash dividend will be payable on May 5, 2021 to stockholders of record as of the close of business on April 21, 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 special dividend amount declared by Richmond Mutual Bancorporation (RMBI)?

Richmond Mutual Bancorporation has declared a special cash dividend of $0.50 per share.

When is the special dividend payment date for RMBI?

The special dividend will be payable on May 5, 2021.

What is the record date for the dividend payment for Richmond Mutual Bancorporation?

Stockholders of record as of April 21, 2021, will receive the special dividend.

How does the special dividend affect shareholders of RMBI?

The special dividend enhances shareholder value by providing direct cash returns.

What factors influence Richmond Mutual Bancorporation's decision to pay dividends?

The decision to pay dividends is based on sound capital management strategies and the company's ability to grow.