Christmas arrived a couple of days early for stockholders of Horizon Bancorp, headquartered in Michigan City. The financial institution’s board of directors voted Thursday to increase its quarterly dividend by 10-percent.
Shareholders of record on January 6, 2017 will be paid the increased dividend on January 20th following the board’s action. The vote takes the previous quarterly divided of 10-cents per share and boosts it to 11-cents per share effective next month.
The 10-percent hike will produce a dividend yield of 1.58-percent based on the price per share of $27.91 as of the close of business on December 21, 2016.
Horizon has been growing not only organically, but also through recent acquisitions. Horizon Bancorp is the independent commercial bank holding company serving northern and central Indiana and southwest and central lower Michigan through its commercial banking subsidiary of Horizon Bank which has multiple offices across the region including several in the immediate St. Joseph-Benton Harbor marketplace.
The company’s common stock is traded on the NASDAQ Global Select Market under the ticker symbol HBNC.
