Macatawa Bank Corporation Declares Quarterly Dividend
April 29 2019 - 7:30AM
Macatawa Bank Corporation (Nasdaq: MCBC) (the "Company" or
"Macatawa") today announced that its Board of Directors has
declared a quarterly cash dividend of $0.07 per share on its common
stock to be paid on May 30, 2019 to shareholders of record on May
14, 2019.
In the fourth quarter of 2018, Macatawa increased its dividend
rate from $0.06 to $0.07 per share. The current quarter’s
dividend is a continuation of this higher dividend rate and
reflects the strong financial condition and growth in earnings
performance of the Company.
About Macatawa BankHeadquartered in Holland,
Mich., Macatawa Bank offers a full range of banking, retail and
commercial lending, wealth management and ecommerce services to
individuals, businesses and governmental entities from a network of
26 full-service branches located throughout communities in Kent,
Ottawa and northern Allegan counties. The bank is recognized
for its local management team and decision making, along with
providing customers excellent service, a rewarding experience and
superior financial products. Macatawa Bank has been recognized for
the past nine consecutive years as one of “West Michigan’s 101 Best
and Brightest Companies to Work For”. For more information, visit
www.macatawabank.com.
CAUTIONARY STATEMENT: This press release contains
forward-looking statements that are based on management's current
beliefs, expectations, assumptions, estimates, plans and
intentions. Such statements are based upon current beliefs
and expectations and involve substantial risks and uncertainties
which could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. The
declaration and payment of each future dividend to common
shareholders will be considered by the Board of Directors in its
discretion and will depend on a number of factors, including our
financial condition, liquidity, profits and anticipated
profitability. These statements are not guarantees of future
performance and involve certain risks, uncertainties and
assumptions ("risk factors") that are difficult to predict with
regard to timing, extent, likelihood and degree of
occurrence. Therefore, actual results and outcomes may
materially differ from what may be expressed in or implied by such
forward-looking statements. Macatawa Bank Corporation does not
undertake to update forward-looking statements to reflect the
impact of circumstances or events that may arise after the date of
the forward-looking statements.
Risk factors include, but are not limited to, the risk factors
described in "Item 1A - Risk Factors" of our Annual Report on Form
10-K for the year ended December 31, 2018. These and
other factors are representative of the risk factors that may
emerge and could cause a difference between an ultimate actual
outcome and a preceding forward-looking statement.
Contact:
Jon Swets, CFO
616-494-7645
Macatawa Bank (NASDAQ:MCBC)
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