SmartFinancial (SMBK) Declares $0.05 Quarterly Dividend; Resumption of Stock Repurchase Plan

SmartFinancial (NASDAQ: SMBK) declared a quarterly dividend of $0.05 per share, or $0.2 annualized.

The dividend will be payable on November 23, 2020, to stockholders of record on November 9, 2020, with an ex-dividend date of November 6, 2020.

The annual yield on the dividend is 1.4 percent.

SmartFinancial also announced the resumption of its stock repurchase plan. The plan was originally authorized by the board of directors on November 20, 2018. The shares will be purchased from time to time at prevailing market prices in any manner determined appropriate by SmartFinancial’s management and in accordance with applicable legal requirements, through open market or privately negotiated transactions, depending upon market conditions. Through the plan, the purchases will be funded from available working capital, and the repurchased shares will be become authorized, unissued shares. There is no guarantee as to the exact number of shares that will be redeemed by SmartFinancial, and SmartFinancial may discontinue repurchases at any time that management determines additional purchases are not warranted

For a dividend history and other dividend-related data on SmartFinancial (SMBK) click here.

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