Isabella Bank Corporation has the Board of Directors of the Bank Corporation has announced the second quarter 2020 dividend. According to the details released by the company, the company has declared a $0.27 dividend per common share at its regular meeting on May 27, 2020.
The company has further added that the dividend would be payable on June 30, 2020 to the shareholders of the company. According to the ISBA, the closing stock price of the company reached $16.30 per share.
Isabella Bank Corporation is a parent financial company of Isabella Bank. The Isabella Bank was established in 1903 and since then, the bank is committed to provide financial services to local communities for 117 years.
The Isabella Bank offers commercial and personal lending of properties, including estate planning and investment through Isabella Wealth. Currently, the Bank has 30 different offices in different US cities, including Montcalm, Gratiot, Isabella, Midland, Mecosta, Gratiot, Clare and Saginaw.
Chief Executive Officer and President of Isabella Bank Corporation, Jae A. Evans said, “I am pleased to announce our Board approved a dividend of $0.27 per share for the second quarter. The second quarter dividend represents a 3.85% increase from the second quarter of 2019 and is unchanged from the first quarter of 2020. Our continued financial strength provides us the ability to reward shareholders with a very attractive return on their investment as evidenced by the 6.63% annualized yield.”
“We remain focused on the impact COVID-19 and the economy are having on the communities in which we operate and serve. As we continue to assist businesses and families within our markets during these challenging times, we are looking ahead and planning for the needs of our customers, employees, and organization. This planning includes capital management, and we may deem it necessary to adjust future dividends for loan growth and other corporate purposes,” Jae Evans further added.