MBT Financial (MBTF) Raises Quarterly Dividend 16.7% to $0.07; 2.6% Yield

MBT Financial (NASDAQ: MBTF) declared a quarterly dividend of $0.07 per share, or $0.28 annualized. This is a 16.7% increase from the prior dividend of $0.06.

The dividend will be payable on May 17, 2018, to stockholders of record on May 10, 2018, with an ex-dividend date of May 9, 2018.

The annual yield on the dividend is 2.6 percent.

H. Douglas Chaffin, President and CEO, commented, “We continue to see solid loan growth, and the improvement in net interest margin combined with the effects of the Tax Cuts and Jobs Act contributed to the substantial improvement in earnings this quarter. Our new business pipeline remains strong and we expect loan growth to continue the rest of this year, which should lead to further margin improvement. Notably, we also expect credit quality to remain strong, as we see nothing that might inhibit our strong quality metrics in the near term. Our focus on managing our capital has also allowed us to bring more value to our shareholders, through the regular and special dividends paid in the first quarter and the increase in the quarterly dividend we announced today. We will continue to keep our eyes open for the right opportunities to grow through strategic acquisitions, while remaining disciplined in that regard. We remain confident in our ability to maintain our position as the premier independent provider of financial services in the communities we serve.”

For a dividend history and other dividend-related data on MBT Financial (MBTF) click here.

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