Quarterly Cash Dividend Payment Increased 5% Year-over-Year
LCNB Corp. (Nasdaq: LCNB) today announced that the Company’s Board of Directors declared a cash dividend of $0.21 per common share which is a 5% increase over the same period last year. The common stock cash dividend will have a record date of December 1, 2022 and is payable to shareholders on December 15, 2022.
Eric Meilstrup, President and Chief Executive Officer stated, “I am pleased with our Board’s decision to increase our quarterly dividend for the fifth consecutive year. In fact, since 1998, our dividend has increased at a compound annual growth rate of 3.4%.”
“We will have returned a record amount of capital back to shareholders this year through our dividend and stock repurchase programs. This reflects continued strength in LCNB’s operating and financial results, as well as our commitment to return capital to shareholders. Through September 30, 2022, LCNB has repurchased 1,172,456 shares, or 9.4% of our outstanding common stock prior to the repurchase. In addition, we will have paid annual dividends of $0.81 per common share, compared to $0.77 per common share last year, representing an increase of 5.2%,” concluded Mr. Meilstrup.
About LCNB Corp.
LCNB Corp. is a financial holding company headquartered in Lebanon, Ohio. Through its subsidiary, LCNB National Bank (the “Bank”), it serves customers and communities in Southwest and South-Central Ohio. A financial institution with a long tradition for building strong relationships with customers and communities, the Bank offers convenient banking locations in Butler, Clermont, Clinton, Fayette, Franklin, Hamilton, Montgomery, Preble, Ross, and Warren Counties, Ohio. The Bank continually strives to exceed customer expectations and provides an array of services for all personal and business banking needs including checking, savings, online banking, personal lending, business lending, agricultural lending, business support, deposit and treasury, investment services, trust and IRAs and stock purchases. LCNB Corp. common shares are traded on the NASDAQ Capital Market Exchange® under the symbol “LCNB.” Learn more about LCNB Corp. www.lcnb.com.
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Contacts
Company Contact:
Eric J. Meilstrup
President Chief Executive Officer
LCNB National Bank
(513) 932-1414
Shareholderrelations@lcnb.com
Investor and Media Contact:
Andrew M. Berger
Managing Director
SM Berger & Company, Inc.
(216) 464-6400
andrew@smberger.com
