TowneBank Announces Quarterly Cash Dividend
24 May 2017 - 11:00PM
Hampton Roads based TowneBank (NASDAQ:TOWN) announced today that
its Board of Directors on May 23, 2017 declared its second-quarter
shareholder cash dividend of $0.14 per common share payable on July
12, 2017 to shareholders of record on June 30, 2017. The
quarterly common stock cash dividend of $0.14 per common share, or
$0.56 per common share on an annual basis, is a 7.7% increase from
the previous dividend rate.
The amount and declaration of future cash
dividends are subject to Board of Directors’ approval in addition
to regulatory restrictions.
About TowneBank:As one of the
top community banks in Virginia and North Carolina, TowneBank
operates 37 banking offices serving Chesapeake, Chesterfield
County, Glen Allen, Hampton, James City County, Mechanicsville,
Newport News, Norfolk, Portsmouth, Richmond, Suffolk, Virginia
Beach, Williamsburg, and York County in Virginia, along with
Moyock, Grandy, Camden County, Southern Shores, Corolla and Nags
Head in North Carolina. Towne also offers a full range of financial
services through its controlled divisions and subsidiaries that
include Towne Investment Group, Towne Insurance Agency, Towne
Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage,
Berkshire Hathaway HomeServices Towne Realty, Towne 1031 Exchange,
LLC, and Beach Properties of Hilton Head. Local decision-making is
a hallmark of its hometown banking strategy that is delivered
through the leadership of each group’s President and Board of
Directors. With total assets of $8.2 billion as of March 31,
2017, TowneBank is one of the largest banks headquartered in
Virginia.
For more information contact:
G. Robert Aston, Jr., Chairman and CEO, (757) 638-6780
Clyde E. McFarland, Jr., Senior Executive Vice President and CFO (757) 638-6801
TowneBank (NASDAQ:TOWN)
Historical Stock Chart
From Apr 2024 to May 2024
TowneBank (NASDAQ:TOWN)
Historical Stock Chart
From May 2023 to May 2024