COLDWATER, MI (WTVB) – Chairman and C.E.O. John Castle announced at the Southern Michigan Bancorp annual meeting that the board of directors approved an increase to the quarterly cash dividend that will be paid in July.
The 22 cents per share dividend is an increase of the one cent per share over the April 2018 cash dividend payment.
The annualized cash dividend of 88 cents per share represents a 2.32% dividend yield based on the current market price of $38 per share. The dividend will be payable July 20 to shareholders of record as of July 6, 2018.
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