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GALLIPOLIS, Ohio - Ohio Valley Banc Corp. (NASDAQ:OVBC) announced that its Board of Directors has declared a cash dividend. Shareholders of record by the close of business on April 25, 2025, will receive a dividend of $0.23 per common share, payable on May 10, 2025. The dividend represents a 3.03% yield, reflecting the company’s 32-year track record of consistent dividend payments.
In a recent statement, Tom Wiseman, OVBC Chairman of the Board, acknowledged the current economic challenges but expressed confidence in the company’s ability to support its customers and shareholders. "We very much appreciate the confidence and support you continue to entrust in us," Wiseman said, emphasizing the role of the company’s community bankers in enabling the dividend increase. The company’s stock has shown strong momentum, with a 27% price return over the past six months and trades at a P/E ratio of 12.9.
Ohio Valley Banc Corp., headquartered in Gallipolis, Ohio, operates The Ohio Valley Bank Company, which has 17 offices across Ohio and West Virginia, and Loan Central, Inc., with six consumer finance offices in Ohio. With a market capitalization of $140.6 million, InvestingPro analysis suggests the stock is currently fairly valued, with additional insights available to subscribers.
This dividend announcement comes amid economic uncertainties, with the company aiming to provide stability to its shareholders. The information is based on a press release statement from Ohio Valley Banc Corp.
In other recent news, Ohio Valley Banc Corp. announced a quarterly cash dividend increase, with the Board of Directors declaring a dividend of $0.23 per common share. This represents a 4.55% increase from the previous quarter’s dividend of $0.22 per share. The decision reflects the company’s commitment to providing value to its shareholders and indicates confidence in its financial stability. In terms of earnings, Ohio Valley Banc Corp. reported a decrease in net income for both the fourth quarter and the full year ending December 31, 2024. Quarterly net income was $2,515,000, down from $3,223,000 the previous year, while annual net income fell by 12.9% to $10,999,000. The decline in earnings was attributed to significant one-time expenses, including a voluntary early retirement program and account bonuses for new depositors. Despite the earnings dip, net interest income increased due to a rise in average earning assets, driven by loan growth. Total assets of the company grew to $1.503 billion, marking a $151 million increase from the previous year.
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