Shareholders of Southern Michigan Bancorp, Inc. will be getting a dividend next month following action by the institution’s board this week.
The Board of Directors of Southern Michigan Bancorp, Inc., which is the parent to Southern Michigan Bank & Trust, has declared a quarterly dividend of $0.23 per share on the outstanding shares of the corporation’s stock. The dividend is payable on January 22, 2021 to shareholders of record January 8, 2021. The annualized cash dividend of $0.92 per share represents a 2.87-percent dividend yield based on the current market price of $32.05 per share.
Southern Michigan Bancorp, Inc. is the bank holding company parent to Southern Michigan Bank & Trust, which operates 13 branches within Branch, Calhoun, Hillsdale, Kalamazoo, and St. Joseph Counties in southern Michigan, providing a broad range of consumer, business, and wealth management services throughout the region. For more information, you can visit the Southern Michigan Bank & Trust website, http://www.smb-t.com.
