Farmers National Bank Declares 16-cent Cash Dividend
CANFIELD, Ohio – Farmers National Banc Corp. declared a quarterly cash dividend Tuesday of 16 cents per share, a 45% increase over the same period last year.
The common stock cash dividend will have a record date of March 11, 2022 and is payable to shareholders on March 31, according to a company news release.
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 Dec. 31, 2021, total wealth management assets under care were at $3.1 billion.
The 45% year-over-year increase reflects Farmers’s strong financial performance, robust capital position and the benefits the 2021 Cortland Bancorp acquisition, said Kevin J. Helmick, president and CEO.
“This marks the seventh consecutive year we have increased our dividend payment,” he said in the release. “In fact, our annualized cash dividend payment since 2015 has increased from $0.12 per share, to $0.64 per share representing a compound annual growth rate of 27%. We are proud of this impressive track record, which demonstrates our strong financial performance and commitment to returning capital to our shareholders.”
Published by The Business Journal, Youngstown, Ohio.