Towne Bank (TOWN) Declares $0.70 Special Dividend; 2% Yield

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Go back to Towne Bank (TOWN) Declares $0.70 Special Dividend; 2% Yield

TowneBank Announces Special Cash Dividend

April 23, 2026 8:30 AM EDT

SUFFOLK, Va., April 23, 2026 (GLOBE NEWSWIRE) -- TowneBank (NASDAQ: TOWN) announced today that its Board of Directors declared a onetime special dividend of $0.70 per common share payable on May 20, 2026 to shareholders of record as of the close of business on May 4, 2026.

The total dividend payout of approximately $65 million represents a payment to our shareholders of roughly 32% of the estimated $203 million gain, before taxes and deal costs, recognized by TowneBank on the sale of its Resort Property Management business that was completed on April 3, 2026... More