Premier Financial Bancorp (PFBI) Declares $0.15 Quarterly Dividend, 2.7% Yield; Announces 5 for 4 Share Split

Premier Financial Bancorp (NASDAQ: PFBI) declared a quarterly dividend of $0.15 per share, or $0.6 annualized.

The dividend will be payable on June 15, 2018, to stockholders of record on June 4, 2018, with an ex-dividend date of June 1, 2018.

The annual yield on the dividend is 2.7 percent.

President and CEO, Robert W. Walker stated, "We are pleased to reward our shareholders with both the stock split and the cash dividend. The board reflected on the positive earnings performance of the company in 2017 and the first quarter of 2018, as well as the positive impact of the lower corporate income tax rate resulting from the 2017 Tax Cut and Jobs Act, and their desire to provide shareholders with increased value. The declared stock split will result in shareholders receiving 1 additional share of common stock for every 4 shares of common stock they already own on June 4, 2018 (the record date). The shares will be added to their ownership record automatically on the payable date, June 8, 2018, with any resulting fractions of a share paid in cash at the rate of $21.23 per whole share. Since the record date of the cash dividend is after the issuance of the 5 for 4 stock split, shareholders will receive the $0.15 per share cash dividend on those additional shares, effectively increasing the cash dividend by 25% as well."

Share Split

At its regularly scheduled May meeting, the board of directors resolved to issue the 5 for 4 stock split to common shareholders of record on June 4, 2018, payable to shareholders on June 8, 2018, and declared the $0.15 per share cash dividend to common shareholders of record on June 15, 2018. The cash dividend will be paid to shareholders on June 29, 2018, the last business day of the quarter.

For a dividend history and other dividend-related data on Premier Financial Bancorp (PFBI) click here.

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