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COLDWATER, Mich. - Southern Michigan Bancorp, Inc. (OTC Pink:SOMC) announced Tuesday that its Board of Directors has declared a quarterly cash dividend of $0.16 per share on the company’s outstanding stock. The regional bank, with a market capitalization of $96 million, has maintained dividend payments for 30 consecutive years and raised them for the past 14 years, according to InvestingPro data.
The dividend will be payable on July 18, 2025, to shareholders of record as of July 7, 2025, according to a press release statement from the bank holding company.
The declared quarterly dividend represents an annualized cash dividend of $0.64 per share, which yields 3.08% based on the current market price of $20.75 per share.
Southern Michigan Bancorp serves as the parent company of Southern Michigan Bank & Trust, which operates 18 offices throughout Branch, Calhoun, Hillsdale, Jackson, Kalamazoo, and St. Joseph Counties in Michigan. The bank provides consumer, business, and wealth management services across these regions.
The company noted that future dividends will be considered and declared at the discretion of the board of directors, with decisions dependent on factors including the company’s financial condition and profitability.
Southern Michigan Bancorp trades on the OTC Pink market under the ticker symbol SOMC.
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