TowneBank (TOWN) raised its quarterly dividend by 11.1% to $0.20 per share. The company is a provider of retail and commercial banking services. The dividend is payable on July 9 to shareholders of record on June 30. TowneBank's annual dividend of $0.80 per share now reflects a dividend yield of 2.5%. On April 29, TowneBank reported strong Q1 results. Earnings of $0.95 per share outpaced the Street’s estimates of $0.63. Total revenues of $182.5 million were above the consensus estimate of $164.84 million and increased 32.5% year-over-year. (See TowneBank stock analysis on TipRanks) Following the Q1 earnings announcement, Raymond James analyst William Wallace maintained a Hold rating on the stock.
https://www.tipranks.com/news/townebank-bumps-up-quarterly-dividend-by-11-1
TowneBank (NASDAQ:TOWN)
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