Dimeco hikes dividend by 5%
On December 19, 2024, the Board of Directors of Dimeco, Inc. (DIMC) announced a quarterly dividend of $0.42 per share, marking a 5% increase from the previous dividend of $0.40 declared in September 2024. This adjustment represents an annual dividend payout of $1.62 per share, an $0.08 increase compared to the dividends declared in 2023.
The latest dividend hike builds upon Dimeco’s history of steady increases, following the 5.3% boost implemented in 2023. At the current stock price of $40, the dividend yield is approximately 4.2%, reflecting Dimeco's commitment to shareholder returns.
Dimeco, Inc. is the holding company for The Dime Bank, a financial institution offering a full range of banking services in Northeast Pennsylvania. The company is publicly traded on the OTCQX Marketplace under the ticker symbol DIMC, which is operated by OTC Markets Group.
This dividend declaration underscores the company’s consistent performance and its dedication to delivering value to shareholders. Investors can expect the new dividend payout to commence in the upcoming quarterly cycle.
