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PIKEVILLE, Ky. - Community Trust Bancorp, Inc. (NASDAQ:CTBI) announced Tuesday that its Board of Directors has approved a 12.8% increase in its quarterly cash dividend to $0.53 per share, bringing its dividend yield to 3.31%.
The increased dividend will be payable on October 1, 2025, to shareholders of record as of September 15, 2025, according to a company press release.
This marks the 45th consecutive year that the Kentucky-based financial institution has raised its dividend to shareholders.
"We are pleased to have increased the cash dividend to our shareholders for the 45th consecutive year," said Mark A. Gooch, Chairman, President, and CEO of Community Trust Bancorp.
The company, headquartered in Pikeville, Kentucky, has assets of $6.4 billion and operates 72 banking locations across eastern, northeastern, central, and south central Kentucky. It also maintains six banking locations in southern West Virginia, three in northeastern Tennessee, and five trust offices across Kentucky and Tennessee.
In other recent news, Community Trust Bancorp’s stock price target was raised to $63 by Raymond James, up from a previous target of $58. The investment firm maintained an Outperform rating, noting strong core trends in the company’s second-quarter results. These trends included a wider net interest margin supported by securities repricing, loan growth exceeding projections, and healthy credit metrics. Additionally, Community Trust Bancorp appointed David L. Baird to its Board of Directors. Baird is a Pikeville native and an attorney at Baird & Baird, P.S.C. Furthermore, the company announced the retirement of Franklin H. Farris, Jr. from its board of directors after he reached the mandatory retirement age of 75. Farris’ departure reduces the number of board members from ten to nine and marks a change in the leadership of the Audit and Asset Quality Committee. These developments reflect ongoing changes and adjustments within Community Trust Bancorp’s governance and financial outlook.
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