COLDWATER, MI (WTVB) – Southern Michigan Bancorp, Inc. (OTC Pink: SOMC) declared a quarterly dividend of $0.16 per share on the outstanding shares of the corporation’s stock. The dividend is payable on October 23, 2015 to shareholders of record October 9, 2015. The annualized cash dividend of $0.64 per share represents a 2.67% dividend yield based on the current market price of $24.00 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 and St. Joseph Counties, and a loan production office in Steuben County, providing 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.
