ACNB Corp hikes dividend by 7.7%
ACNB Corporation (NASDAQ: ACNB), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced today that the Board of Directors approved and declared a regular quarterly cash dividend of $0.28 per share of ACNB Corporation common stock payable on December 15, 2022, to shareholders of record as of December 1, 2022. This per share amount reflects a 7.7% increase over the same quarter of 2021 and will result in aggregate dividend payments of approximately $2.4 million to ACNB Corporation shareholders in the fourth quarter of 2022. Compared to a year ago, ACNB Corporation paid a $0.26 dividend per common share in the fourth quarter of 2021.
“The actions of the ACNB Corporation Board of Directors to enhance the quarterly cash dividend and to authorize a new common stock repurchase program reflects our ongoing and long-term commitment to maximizing shareholder value. Providing a fair return on the investment of the Corporation’s shareholders is fundamental and clearly evidenced by our solid quarterly dividend payments over a history of decades. The declaration of the $0.28 dividend per common share for the fourth quarter of 2022 is an increase of $0.02 per share, or 7.7%, over the same quarter of 2021. This significant increase is predicated upon ACNB Corporation’s 2022 financial performance and strong capital base,” said James P. Helt, ACNB Corporation President & Chief Executive Officer.
Mr. Helt continued, “As 2022 comes to a close, the Corporation’s strategic focus remains constant in seeking opportunities for both organic and inorganic growth. At ACNB Corporation, the vision is to be the independent financial services provider of choice in the core markets served by building relationships and finding solutions. As always, our staff members work diligently to fulfill this vision for the benefit of customers and shareholders alike.”
With the declaration of the fourth quarter cash dividend for 2022, the regular quarterly cash dividends paid to shareholders for the year of 2022 will total $1.06 per common share. This per share amount will result in a total of more than $9.1 million paid to shareholders for 2022. In comparison to a year ago, ACNB Corporation paid a total of $1.03 per common share in 2021---$1.01 per common share in regular quarterly dividends coupled with the special cash dividend of an additional $0.02 per common share paid on June 15, 2021---and an aggregate of nearly $9.0 million to shareholders during the same period.
