Independent Bank (IBCP) Declares $0.08 Quarterly Dividend and Expands Buyback Plan by 5M Shares

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Go back to Independent Bank (IBCP) Declares $0.08 Quarterly Dividend and Expands Buyback Plan by 5M Shares

Independent Bank Corporation Announces Cash Dividend on Its Common Stock and Expanded Share Repurchase Plan

April 26, 2016 2:28 PM EDT

GRAND RAPIDS, Mich., April 26, 2016 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock of eight cents per share.  This dividend is payable on May 16, 2016 to shareholders of record on May 6, 2016.

The Company also announced today that its Board of Directors authorized a $5 million expansion of its 2016 share repurchase plan.  The repurchase plan is authorized to last through Dec. 31, 2016.

In Jan. 2016,... More