COLDWATER, MI (WTVB) – Southern Michigan Bancorp has announced an increase in its quarterly cash dividend following approval by its Board of Directors.
It will be paid in April.
The 18 cent per share dividend is a two cent per share increase over the January cash dividend.
Officials say the new annualized cash dividend rate of 72 cents per share represents a dividend yield of 2.88 percent based on the current market price of $25 per share.
The dividend is payable to eligible shareholders on April 22, 2016.
