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COLDWATER, Mich. - Southern Michigan Bancorp, Inc. (OTC Pink: SOMC) has announced an increase in its quarterly cash dividend, set to be distributed in April. The new dividend of $0.16 per share marks a $0.01 rise from the January cash dividend of $0.15 per share. Shareholders on record as of April 4, 2025, will receive the dividend on April 18, 2025. According to InvestingPro, this marks the company’s 14th consecutive year of dividend increases, demonstrating a strong commitment to shareholder returns.
The updated annualized dividend of $0.64 per share equates to a 3.37% yield based on the current share price of $19.00. Southern Michigan Bancorp, Inc. is the holding company for Southern Michigan Bank & Trust, which operates 18 branches across multiple counties and a loan production office in Jackson County, offering various consumer, business, and wealth management services.
The increase in dividend payments reflects Southern Michigan Bancorp, Inc.’s current financial performance and its commitment to delivering shareholder value. However, the company has stated that future dividends will be subject to the board of directors’ discretion and will depend on the company’s ongoing financial health and profitability.
This press release contains forward-looking statements, which are based on management’s current expectations and assumptions. While the company expects to continue paying quarterly dividends, there is no assurance as to future dividends since they are contingent on various factors, including the company’s financial results.
The information provided is based on a press release statement from Southern Michigan Bancorp, Inc.
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