Reliant Bancorp, Inc. (RBNC) Declares $0.10 Quarterly Dividend; 3.4% Yield

Reliant Bancorp, Inc. (NASDAQ: RBNC) declared a quarterly dividend of $0.10 per share, or $0.4 annualized.

The dividend will be payable on May 22, 2020, to stockholders of record on May 8, 2020, with an ex-dividend date of May 7, 2020.

The annual yield on the dividend is 3.4 percent.

“This quarter’s cash dividend payment represents an 11.1% increase in the amount paid per share compared with the same quarter in 2019,” stated DeVan Ard, Jr., Reliant’s Chairman, President and CEO. “Reliant’s Board of Directors is focused on maintaining our strong capital position in this challenging environment resulting from the COVID-19 pandemic. We continue to assess all means of capital preservation available to us.

“We remain positive about Reliant’s future with the acquisitions we have completed in 2020. We completed the acquisition of First Advantage Bancorp (“First Advantage”), the parent company for First Advantage Bank, effective April 1, 2020, which moves us into the fast-growing Montgomery County (Clarksville) market. We also completed the acquisition of Tennessee Community Bank Holdings, Inc. (“TCB Holdings”), the parent company for Community Bank & Trust, effective January 1, 2020. These acquisitions solidify our position as the fourth largest community bank by asset size headquartered in the Nashville-Davidson--Murfreesboro--Franklin, TN Metropolitan Statistical Area. We expect these acquisitions to expand our franchise in Middle Tennessee and be accretive to Reliant’s 2020 earnings,” Ard concluded.

For a dividend history and other dividend-related data on Reliant Bancorp, Inc. (RBNC) click here.

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