Premier Financial Bancorp (PFBI) Declares $0.15 Quarterly Dividend, 10% Stock Dividend
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Premier Financial Bancorp (NASDAQ: PFBI) declared a quarterly dividend of $0.15 per share, or $0.6 annualized.
The dividend will be payable on December 15, 2016, to stockholders of record on December 2, 2016, with an ex-dividend date of November 30, 2016.
The annual yield on the dividend is 3.2 percent.
Premier Financial also announced that the board of directors has declared a 10% stock dividend.
President and CEO, Robert W. Walker stated, "We are pleased to reward our shareholders with both dividends. The board reflected on the positive earnings performance of the company over the past several years and their desire to provide shareholders with increased value. The declared stock dividend will result in shareholders receiving 1 additional share of common stock for every 10 shares of common stock they already own on December 2, 2016 (the record date). The shares will be added to their ownership record automatically on the payable date, December 9, 2016, with any resulting fractions of a share paid in cash at the rate of $18.23 per whole share. Since the record date of the cash dividend is after the issuance of the 10% stock dividend, shareholders will receive the $0.15 per share cash dividend on those additional shares, effectively increasing the cash dividend by 10% as well."
For a dividend history and other dividend-related data on Premier Financial Bancorp (PFBI) click here.
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