Central Valley Community (CVCY) Raises Quarterly Dividend 14.3% to $0.08; Approves $10M Buyback

Central Valley Community (NASDAQ: CVCY) declared a quarterly dividend of $0.08 per share, or $0.32 annualized. This is a 14.3% increase from the prior dividend of $0.07.

The dividend will be payable on August 17, 2018, to stockholders of record on August 3, 2018, with an ex-dividend date of August 2, 2018.

The annual yield on the dividend is 1.5 percent.

The Board of Directors of the Company also approved the adoption of a program to effect repurchases of the Company’s common stock. Under the program, the Company may repurchase up to $10 million of the Company’s outstanding shares of common stock, which represents approximately 3% of the Company’s outstanding shares of common stock, or approximately 470,810 shares based on the closing stock price of the Company’s common stock on July 18, 2018 of $21.24. The share repurchase program will begin on July 19, 2018 and end on July 18, 2019. The shares will be repurchased in open market transactions through brokers, subject to availability. All such transactions will be structured to comply with SEC Rule 10b-18, and all shares repurchased will be retired.

For a dividend history and other dividend-related data on Central Valley Community (CVCY) click here.

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