Summit State Bank Declares Quarterly Cash Dividend
Summit State Bank (Nasdaq: SSBI) has declared its 83rd consecutive quarterly cash dividend, but with a significant reduction. The Board of Directors announced a dividend of $0.04 per share, payable on October 10, 2024, to shareholders of record as of October 3, 2024. This decision was made in response to the current rate environment and its impact on earnings.
President and CEO Brian Reed explained that the dividend reduction is part of a deliberate strategy to build capital, improve capital ratios, and increase liquidity. The bank aims to position itself better for long-term value creation amid economic uncertainty. Reed acknowledged the impact on shareholders, emphasizing that the decision was not taken lightly.
Summit State Bank (Nasdaq: SSBI) ha dichiarato il suo 83° dividendo trimestrale in contante, ma con una significativa riduzione. Il Consiglio di Amministrazione ha annunciato un dividendo di 0,04 $ per azione, pagabile il 10 ottobre 2024, agli azionisti registrati al 3 ottobre 2024. Questa decisione è stata presa in risposta all'attuale ambiente dei tassi di interesse e al suo impatto sugli utili.
Il Presidente e CEO Brian Reed ha spiegato che la riduzione del dividendo fa parte di una strategia deliberata per incrementare il capitale, migliorare i ratio di capitale e aumentare la liquidità. La banca mira a posizionarsi meglio per la creazione di valore a lungo termine in un contesto economico incerto. Reed ha riconosciuto l'impatto sugli azionisti, sottolineando che la decisione non è stata presa alla leggera.
Summit State Bank (Nasdaq: SSBI) ha declarado su 83.º dividendo trimestral en efectivo, pero con una reducción significativa. La Junta de Directores anunció un dividendo de 0,04 $ por acción, pagadero el 10 de octubre de 2024, a los accionistas registrados hasta el 3 de octubre de 2024. Esta decisión se tomó en respuesta al actual entorno de tasas y su impacto en las ganancias.
El Presidente y CEO Brian Reed explicó que la reducción del dividendo es parte de una estrategia deliberada para fortalecer el capital, mejorar los ratios de capital y aumentar la liquidez. El banco busca posicionarse mejor para la creación de valor a largo plazo en medio de la incertidumbre económica. Reed reconoció el impacto en los accionistas, enfatizando que la decisión no se tomó a la ligera.
Summit State Bank (Nasdaq: SSBI)는 83번째 연속 분기 현금 배당금을 발표했으나, 대폭 감소했습니다. 이사회는 주당 0.04달러의 배당금을 발표했으며, 이는 2024년 10월 10일에 지급되고, 2024년 10월 3일 기준 주주에게 지급됩니다. 이 결정은 현재의 금리 환경과 그로 인한 수익에 대한 영향을 고려하여 내려졌습니다.
CEO인 브라이언 리드는 배당금 감소가 자본을 축적하고, 자본 비율을 개선하며, 유동성을 증가시키기 위한 의도적인 전략의 일환이라고 설명했습니다. 은행은 경제적 불확실성 속에서 장기적인 가치 창출을 위해 더욱 잘 위치하기를 목표하고 있습니다. 리드는 주주에게 미치는 영향을 인정하며, 이 결정이 가벼운 마음으로 내려진 것이 아님을 강조했습니다.
Summit State Bank (Nasdaq: SSBI) a déclaré son 83ème dividende en espèces trimestriel consécutif, mais avec une réduction significative. Le conseil d'administration a annoncé un dividende de 0,04 $ par action, payable le 10 octobre 2024, aux actionnaires enregistrés au 3 octobre 2024. Cette décision a été prise en réponse à l'environnement actuel des taux d'intérêt et à son impact sur les bénéfices.
Le Président-directeur général Brian Reed a expliqué que la réduction du dividende fait partie d'une stratégie délibérée pour renforcer le capital, améliorer les ratios de capital et augmenter la liquidité. La banque vise à mieux se positionner pour la création de valeur à long terme dans un contexte d'incertitude économique. Reed a reconnu l'impact sur les actionnaires, en soulignant que la décision n'a pas été prise à la légère.
Summit State Bank (Nasdaq: SSBI) hat seine 83. aufeinanderfolgende vierteljährliche Bar-Dividende erklärt, jedoch mit einer erheblichen Reduzierung. Der Vorstand hat eine Dividende von 0,04 $ pro Aktie angekündigt, zahlbar am 10. Oktober 2024, an Aktionäre, die bis zum 3. Oktober 2024 registriert sind. Diese Entscheidung wurde als Reaktion auf das aktuelle Zinsumfeld und dessen Auswirkungen auf die Erträge getroffen.
Präsident und CEO Brian Reed erklärte, dass die Reduzierung der Dividende Teil einer bewusst gesteuerten Strategie ist, um Kapital aufzubauen, Kapitalquoten zu verbessern und die Liquidität zu erhöhen. Die Bank strebt an, sich besser für die langfristige Wertschöpfung in einem unsicheren wirtschaftlichen Umfeld zu positionieren. Reed erkannte die Auswirkungen auf die Aktionäre an und betonte, dass die Entscheidung nicht leichtfertig getroffen wurde.
- Continuation of dividend payments, maintaining 83 consecutive quarters
- Strategic move to build capital and improve financial stability
- Aim to increase liquidity and strengthen capital ratios
- Proactive approach to address economic uncertainty
- Significant reduction in quarterly dividend amount
- Potential negative impact on shareholder income
- Indication of earnings pressure due to current rate environment
- Possible investor concern over the bank's financial performance
SANTA ROSA, Calif., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Summit State Bank’s (the “Bank”) (Nasdaq: SSBI) Board of Directors declared the Bank’s eighty third consecutive quarterly cash dividend to common shareholders for
“The current rate environment, and its impact on earnings, led to our decision to reduce the quarterly cash dividend. The dividend reduction reflects the Bank’s deliberate approach to build capital,” said Brian Reed, President and CEO. “We recognize the importance and impact of the dividend reduction on all of our shareholders, and it was not made lightly. This reduction will improve capital ratios, increase liquidity and allow the Bank to be better positioned to create long-term value during this time of economic uncertainty.”
About Summit State Bank
Summit State Bank, a local community bank, has total assets of
Summit State Bank is committed to embracing the diverse backgrounds, cultures and talents of its employees to create high performance and support the evolving needs of its customers and community it serves. At the center of diversity is inclusion, collaboration, and a shared vision for delivering superior service to customers and results for shareholders. Presently,
Contact: Brian Reed, President and CEO, Summit State Bank (707) 568-4908
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