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BUSINESS BEAT: Southern Michigan Bancorp declares 2nd quarter cash dividend

Southern Michigan Bank and Trust logo
Southern Michigan Bank and Trust logo

COLDWATER, MI (WTVB) -  Southern Michigan Bancorp, Inc. (OTCQB: SOMC) declared a quarterly dividend of $0.12 per share on the outstanding shares of the corporation’s stock.  The dividend is payable on July 19, 2013 to shareholders of record July 5, 2013.   The annualized cash dividend of $0.48 per share represents a 2.72% dividend yield based on the current market price of $17.65 per share.

Southern Michigan Bancorp, Inc. is a bank holding company headquartered in Coldwater, Michigan.  Its subsidiary bank, Southern Michigan Bank & Trust, has 15 branches within Branch, Calhoun, Hillsdale and St. Joseph Counties and provides a broad range of consumer, business and wealth management services throughout the region.  For more information, please visit the Southern Michigan Bank & Trust website, www.smb-t.com.

(courtesy SMB&T)

 

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