January 30, 2023
Rocky Mount, North Carolina… Ted E. Whitehurst, President and CEO of PB Financial Corporation (OTCQX: PBNC), the holding company for Providence Bank, announced today that the Board of Directors approved a quarterly cash dividend of $0.40 per share on common stock outstanding to shareholders of record at the close of business on February 7, 2023. The dividend is payable February 23, 2023. This is an increase of 42.86% from the dividend paid during the 1st quarter of 2022. This represents a $1.60 dividend on an annual basis and a yield of 3.75% (based on the closing price on January 27, 2023 of $42.625/share).
Whitehurst commented, “This represents our 45th consecutive quarterly cash dividend. Our consistent financial performance has allowed us to increase our cash dividend every quarter since we began paying dividends in the 1st quarter of 2012. Increasing our cash dividend continues to be an important part of our strategy to enhance shareholder value.”
PB Financial Corporation is headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina, with branches in Rocky Mount, Tarboro, Nashville, Wilson and Raleigh. As of December 31, 2022, PB Financial Corporation had total assets of $849.2 million, loans of $687.7 million and total deposits of $674.0 million.