COLDWATER, MI (WTVB) – Southern Michigan Bancorp announced recently that the board of directors approved an increase to the quarterly cash dividend that will be paid this month.
The 22 cent per share dividend is an increase of one cent per share over the April cash dividend payment.
Southern Michigan says 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, 2018 to shareholders of record as of July 10.
Southern Michigan Bancorp, Inc. is a bank holding company and the parent company of Southern Michigan Bank & Trust. For more information, visit the Southern Michigan Bank & Trust website, www.smb-t.com.
