Southern Michigan Bancorp, Inc. (SOMC) to Issue Quarterly Dividend of $0.16 on April 18th

Southern Michigan Bancorp, Inc. (OTCMKTS:SOMC) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Shareholders of record on Friday, April 4th will be paid a dividend of 0.16 per share by the financial services provider on Friday, April 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Friday, April 4th. This is a 6.7% increase from Southern Michigan Bancorp’s previous quarterly dividend of $0.15.

Southern Michigan Bancorp Price Performance

Shares of SOMC opened at $19.00 on Thursday. Southern Michigan Bancorp has a 52-week low of $15.60 and a 52-week high of $19.50. The company has a market capitalization of $86.89 million, a PE ratio of 8.33 and a beta of 0.27. The stock has a fifty day simple moving average of $18.89 and a two-hundred day simple moving average of $18.40. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.29.

Southern Michigan Bancorp (OTCMKTS:SOMC) last issued its earnings results on Friday, February 14th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter. The business had revenue of $12.95 million during the quarter. Southern Michigan Bancorp had a return on equity of 10.30% and a net margin of 12.29%.

About Southern Michigan Bancorp

Southern Michigan Bancorp, Inc operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and governmental agencies primarily in the southwest Michigan communities. Its deposit products include interest and non-interest checking, savings, and various types of money market accounts; time, savings, and demand deposits; and certificates of deposit and IRAs.