COLDWATER, MI (WTVB) – The Board of Directors of Southern Michigan Bancorp, Inc. has declared a quarterly dividend of 22 cents per share on the outstanding shares of the corporation’s stock.
The dividend is payable on October 26 to shareholders of record October 12, 2018.
The annualized cash dividend of 88 cents per share represents a 2.18% dividend yield based on the current market price of $40.30 per share.
Southern Michigan Bancorp, Inc. is a bank holding company and the parent company of Southern Michigan Bank & Trust. It operates 14 branches within Branch, Calhoun, Hillsdale, Kalamazoo and St. Joseph Counties.
