Business
Horizon Bancorp, Inc. Increases Quarterly Dividend by 6.67% to $0.16 per Share
MICHIGAN CITY, Ind., June 24, 2022 (GLOBE NEWSWIRE) -- Horizon Bancorp, Inc. (NASDAQ GS: HBNC) announced that its Board of Directors approved a 6.67% increase
About this update from Horizon Bancorp, Inc.
[{"type":"text","content":"MICHIGAN CITY, Ind., June 24, 2022 (GLOBE NEWSWIRE) -- Horizon Bancorp, Inc. (NASDAQ GS: HBNC) announced that its Board of Directors approved a 6.67% increase in its quarterly cash dividend from $0.15 to $0.16 per share. Horizon’s quarterly dividend will next be payable on July 22, 2022 to common stockholders of record as of July 8, 2022. “This dividend increase reflects the strength and profitability of our business, and further enhances what we believe is the compelling value proposition presented by Horizon’s recent share price,” Chairman and CEO Craig M. Dwight said. “Horizon’s balance sheet, efficient operations, asset quality and commercial and consumer relationships have allowed us to continue generating meaningful retained earnings, building cash, and enhancing capital, all of which enable us to continue our uninterrupted 30–year record of paying quarterly cash dividends while maintaining a payout ratio aligned with profitability.” About Horizon Bancorp, Inc. Horizon Bancorp, Inc. (NASDAQ GS: HBNC) is the commercial bank holding company for Horizon Bank, which serves customers across diverse and economically attractive Midwestern markets. Horizon’s convenient digital and virtual tools are used by customers for a majority of their transactions with the bank, together with its Indiana and Michigan locations. Horizon’s retail offerings include prime residential, indirect auto, and other secured consumer lending to in–market customers, as well as a range of personal banking and wealth management solutions. Commercial lending represents over half of total loans outstanding with a primary focus on in–market sponsors, and Horizon also provides a comprehensive array of business banking and treasury management services. More information on Horizon, headquartered in Northwest Indiana’s Michigan City, is available at horizonbank.com and investor.horizonbank.com. Forward Looking Statements This press release may contain forward–looking statements regarding the financial performance, business prospects, growth, and operating strategies of Horizon. For these statements, Horizon claims the protections of the safe harbor for forward–looking statements contained in the Private Securities Litigation Reform Act of 1995. Statements in this press release should be considered in conjunction with the other information available about Horizon, ...