Summit Bancshares, Inc. Announces an Increase in Semi-Annual Cash Dividend

Rhea-AI Summary

The Board of Directors of Summit Bancshares has announced an increase in its regular semi-annual dividend from $0.17 to $0.18 per share. This change will take effect on February 26, 2021, for shareholders of record as of the close of business on February 5, 2021.

Summit Bancshares Inc. operates under the ticker SMAL on the OTC Bulletin Board and is the parent company of Summit Bank.

Positive

• Increased semi-annual dividend from $0.17 to $0.18 per share, enhancing shareholder income.

Negative

• None.

The Board of Directors of Summit Bancshares Inc., at a meeting held on January 20, 2021, voted to increase the regular semi-annual dividends from $0.17 per share to $0.18 per share beginning February 26, 2021 to holders of record as of the close of business on February 5, 2021.

Summit Bancshares, Inc., (OTC Bulletin Board: SMAL is the parent company of Summit Bank).

View source version on businesswire.com: https://www.businesswire.com/news/home/20210121005977/en/

FAQ

When will Summit Bancshares pay the new dividend for SMAL?

Summit Bancshares will pay the new dividend of $0.18 per share on February 26, 2021.

What is the record date for the dividend increase for SMAL?

The record date for the dividend increase is February 5, 2021.

What was the previous dividend amount for SMAL before the increase?

The previous dividend amount was $0.17 per share.