Independent Bank Corporation Announces Increase In Quarterly Cash Dividend On Common Stock From $0.23 To $0.24 Per Share
Portfolio Pulse from Benzinga Newsdesk
Independent Bank Corporation (NASDAQ:IBCP) has announced an increase in its quarterly cash dividend from $0.23 to $0.24 per share, payable on February 15, 2024, to shareholders of record as of February 5, 2024. This marks an annual increase for the eleventh consecutive year, reflecting the company's strong operating performance, capital position, and positive future outlook.
January 23, 2024 | 3:20 pm
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Independent Bank Corporation has raised its quarterly dividend to $0.24, a 4% increase, indicating a strong financial position and a positive outlook for the future.
The increase in the dividend is typically viewed as a positive signal about a company's financial health and future prospects. It suggests that Independent Bank Corporation is confident in its ability to generate sufficient cash flow to support a higher payout to shareholders. This news is likely to be well-received by investors, potentially leading to a short-term increase in the stock price.
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