Farmers Banc Corp. Increases Dividend 33%
CANFIELD, Ohio – Farmers National Banc Corp. will pay a cash dividend of 4 cents per share March 31 to shareholders of record March 11.
The first quarter 2016 dividend was declared Feb. 23 by the company’s board of directors. It represents a 33% increase over the 2015 first-quarter dividend payment, says Kevin Helmick, CEO and president.
“The acquisitions we completed in 2015 significantly increased the size of Farmers, expanded our market presence, and improved our level of profitability,” Helmick said in a prepared statement. “The 33% increase in our quarterly cash dividend reflects the board of directors’ confidence in our business outlook and commitment to returning value to shareholders.”
Farmers National Banc Corp., founded in 1887, is the holding company for Farmers National Bank, which operates 38 banking offices in Mahoning, Trumbull, Columbiana, Stark, Summit, Wayne, Medina and Cuyahoga counties in Ohio and Beaver County in Pennsylvania. Other wholly-owned subsidiaries are Farmers Trust Co. and Farmers National Insurance LLC.
The company reports more than $1.l8 billion in banking bassets and $1 billion in trust assets.
Copyright 2023 The Business Journal, Youngstown, Ohio.