Farmers National Bank Declares 14-Cent Cash Dividend
CANFIELD, Ohio – Farmers National Banc Corp. declared a quarterly cash dividend Tuesday of 14 cents per share, a 27% increase over the same period last year.
The common stock cash dividend will have a record date of Dec. 10 and is payable to shareholders Dec. 31, according to a company news release Wednesday morning.
Farmers National Banc Corp.’s wholly owned subsidiaries consist of The Farmers National Bank of Canfield, which has 48 banking locations in Ohio and Pennsylvania; Farmers Trust Co.; and Farmers National Insurance LLC. As of Sept. 30, total wealth management assets under care were at $3.0 billion.
The 27% increase reflects Farmers’s strong 2021 performance and the successful recent closing of its merger with Cortland Bancorp, said Kevin J. Helmick, president and CEO.
“The increase marks the sixth consecutive year we have increased our dividend payment and reflects our optimism for the future of Farmers,” he said. “Since 2015, our annual cash dividend has increased at an impressive 26% compound annual growth rate, reflecting our strong financial results and commitment to returning capital to shareholders.”
Published by The Business Journal, Youngstown, Ohio.