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.