Southern Michigan Bancorp, Inc. Declares Cash Dividend, Payable on October 20, 2023
September 27, 2023 at 05:56 pm IST
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The Board of Directors of Southern Michigan Bancorp, Inc. declared a quarterly dividend of $0.14 per share on the outstanding shares of the corporation?s stock. The dividend is payable on October 20, 2023, to shareholders of record October 11, 2023. The annualized cash dividend of $0.56 per share represents a 3.25% dividend yield based on the current market price of $17.25 per share.
Southern Michigan Bancorp, Inc. is a bank holding company and the parent company of Southern Michigan Bank & Trust (The Bank). The Bank operates about 18 branches within Branch, Calhoun, Hillsdale, Jackson, Kalamazoo, and St. Joseph counties, providing a range of consumer, business, and wealth management services throughout the region. Its business, which it conducts primarily through the Bank, is concentrated in a single industry segment, commercial banking. The Bank offers a variety of deposit, payment, credit, and other financial services to all types of customers. The Bankâs commercial lending covers categories, such as business, industrial, agricultural, construction, inventory, and real estate. It offers trust and investment services, which include investment management, trustee services, and others. It also owns Southern Michigan Bancorp Capital Trust I, SMB Risk Management, Inc., and 27 Marshall Street, LLC. The Bank wholly owns SMB Financial Services, Inc.
SOUTHERN MICHIGAN BANCORP, INC. 