COLDWATER, MI (WTVB) – Southern Michigan Bancorp Incorporated has declared a quarterly dividend of 18 cents per share on the outstanding shares of the corporation’s stock.
The dividend is payable on July 22 to shareholders of record on July 8, 2016.
The annualized cash dividend of 72 cents per share represents a 2.75 percent dividend yield based on the current market price of $26.20 per share.
Southern Michigan Bancorp is a bank holding company and the parent company of Southern Michigan Bank and Trust.
It operates 15 branches within Branch, Calhoun, Hillsdale, Kalamazoo and St. Joseph Counties as well as a loan production office in Steuben County.
