Independent Bank Corporation hikes dividend by 8.3%
Independent Bank Corporation (IBCP) will raise its quarterly dividend by 8.3% to $0.26 quarterly per share. This marks the 11th consecutive year of increases.
Independent Bank Corporation, the holding company of Independent Bank, a Michigan-based community bank, announced that its Board of Directors declared a quarterly cash dividend on its common stock of 26 cents per share. This dividend is payable on February 14, 2025, to shareholders of record on February 4, 2025. The quarterly dividend represents an 8% increase over the quarterly dividend rate paid for each quarter in 2024.
“I am pleased that our Board of Directors has approved an increase of over 8% in our quarterly dividend compared to the rate paid each quarter in 2024. This marks the twelfth consecutive annual increase in our dividend payment. The Board's decision is a testament to our consistent long-term performance, robust capital position, and optimistic outlook for the future.”
Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $5.3 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan's Lower Peninsula through one state-chartered bank subsidiary. This subsidiary (Independent Bank) provides a full range of financial services, including commercial banking, mortgage lending, investments and insurance services.
