Preferred Bank Announces Increases Cash Dividend By 27.3% From $0.55 To $0.70 Per Share
Portfolio Pulse from Benzinga Newsdesk
Preferred Bank (PFBC) has announced a significant increase in its cash dividend, raising it by 27.3% from $0.55 to $0.70 per share. The new dividend will be payable on January 22, 2024, to shareholders of record as of January 8, 2024.
December 13, 2023 | 9:06 pm
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POSITIVE IMPACT
Preferred Bank has increased its quarterly cash dividend by 27.3%, which may attract income-focused investors and could potentially lead to a positive short-term impact on the stock price.
Dividend increases are typically seen as a sign of a company's strong financial health and future prospects, which can lead to increased investor confidence and a rise in stock price. Given the substantial increase of 27.3%, this is likely to be viewed positively by the market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100