Horizon Bancorp (HBNC) Raises Quarterly Dividend 8.3% to $0.13; 2.7% Yield

Horizon Bancorp (NASDAQ: HBNC) declared a quarterly dividend of $0.13 per share, or $0.52 annualized. This is an 8.3% increase from the prior dividend of $0.12.

The dividend will be payable on April 16, 2021, to stockholders of record on April 2, 2021, with an ex-dividend date of March 31, 2021.

The annual yield on the dividend is 2.7 percent.

“We believe Horizon's balance sheet strength, operating discipline and efficiency, credit expectations, and long–term growth opportunities in attractive Midwest markets support the company’s eighth dividend increase over the last 10 years,” Chairman and CEO Craig M. Dwight said. “Today, we maintain approximately 17 future quarters of cash on hand at the holding company level to cover the new 13 cent dividend and interest on all debt, and Horizon has consistently demonstrated its ability to grow retained earnings while paying an uninterrupted quarterly cash dividend over the last 30 years.”

For a dividend history and other dividend-related data on Horizon Bancorp (HBNC) click here.

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