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RENO, Nev. - Plumas Bancorp (NASDAQ:PLBC), the holding company for Plumas Bank, has announced a quarterly cash dividend of $0.30 per share, representing a 2.32% yield. This dividend is slated for distribution on February 17, 2025, to shareholders who are on record by February 3, 2025. According to InvestingPro data, the company has maintained dividend payments for 9 consecutive years, with increases in the last 4 years.
The declaration of this dividend follows Plumas Bancorp's history of providing shareholder returns and reflects the company's financial strength and commitment to its investors. Trading near its InvestingPro Fair Value with a P/E ratio of 9.32, the bank has demonstrated strong market performance with a 27.39% return over the past year. Plumas Bank, a subsidiary of Plumas Bancorp, is a community bank that was established in 1980. With a focus on local management, the bank operates 15 branches across Northeastern California and Northern Nevada, in addition to loan production offices in California and southern Oregon.
Plumas Bank has been recognized as one of the top-performing community banks in the United States, a testament to its operational success and customer service standards. The bank maintains a "Good" financial health score according to InvestingPro analysis, with particularly strong marks in profitability metrics. The bank offers a variety of financial products and services tailored to meet the needs of its communities.
The press release also contained forward-looking statements regarding the bank's future product availability, competitive impacts, pricing strategies, and growth management. These statements are subject to risks and uncertainties that could affect the bank's actual results in the future. Such risks include, but are not limited to, changes in market conditions and regulatory requirements.
This dividend announcement is based on a press release statement from Plumas Bancorp and is intended to inform shareholders and the financial community of the company's latest financial distribution. It is important to note that past performance is not indicative of future results, and investors should always conduct their own research before making investment decisions.
In other recent news, Plumas Bancorp has announced a quarterly dividend of $0.30 per share, demonstrating its financial stability and commitment to shareholder returns. The financial institution's fourth-quarter earnings for 2024 exceeded expectations, leading Raymond (NS:RYMD) James to raise the company's target to $49. Analysts highlighted Plumas Bancorp's strong core trends, robust net interest margin, and solid balance sheet.
In addition, Plumas Bancorp has introduced an incentive plan for 2025, aiming to reward employees based on the company's financial performance. The firm also announced the retirement of a long-serving director, Reeson, and replaced its certifying accountant for the Plumas Bank 401(k) Profit Sharing Plan, shifting from Eide Bailly LLP to Elliot Davis, LLC.
In property-related matters, Plumas Bancorp mutually agreed to terminate a property sale agreement with Mountainseed Real Estate Services, LLC. These are recent developments in Plumas Bancorp's operations.
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