GALLIPOLIS, OH—Ohio Valley Banc Corp. (NASDAQ:OVBC), a state commercial bank headquartered in Ohio, announced today that its Board of Directors has declared a quarterly cash dividend. Shareholders of record as of July 26, 2024, will receive a dividend of $0.22 per share, which is scheduled to be paid on August 10, 2024.
This recent declaration follows the company’s ongoing practice of returning value to its shareholders through regular dividend payments. Ohio Valley Banc Corp. operates within the financial sector and is subject to the regulatory oversight of the Securities and Exchange Commission (SEC).
The announcement was made through a Form 8-K filing with the SEC, which serves as a current report detailing significant events that shareholders and the investment community should be aware of. The dividend declaration is a common event for many publicly traded companies, reflecting their financial health and commitment to providing shareholder value.
Dividend payments are a way for companies to distribute a portion of their earnings to shareholders, and the amount of the dividend can be an indicator of a company’s performance and stability. Ohio Valley Banc Corp.’s decision to issue dividends may be seen as a sign of confidence in its current financial position and future prospects.
Investors and market watchers often look to dividend announcements as one aspect of a company’s financial picture. Ohio Valley Banc Corp.’s disclosure, based on the SEC filing, provides transparent and essential information for those evaluating the company’s performance and investment potential.
It is important to note that the information provided here is based solely on the press release statement and does not include any speculative content or subjective assessment of the company’s market position or future performance. The focus remains strictly on the factual report of the dividend declaration as a significant event for the company and its shareholders.
In other recent news, Ohio Valley Banc Corp., a banking corporation with operations across Ohio and West Virginia, has announced a cash dividend of $0.22 per common share. This dividend is slated for distribution on May 10, 2024, to shareholders who are on record by the close of business on April 26, 2024.
Tom Wiseman, OVBC Chairman of the Board, attributed the company’s ability to continue its tradition of rewarding shareholders to the dedicated team at Ohio Valley Banc Corp. This move is part of the company’s regular practice of providing returns to its shareholders, suggesting a stable financial position. These are the latest developments for Ohio Valley Banc Corp., which operates 17 bank offices and owns Loan Central, Inc., with six consumer finance offices in Ohio.
The company’s commitment to its shareholders and community support continues to be a cornerstone of its operations. Please note that this information is based on a press release statement from Ohio Valley Banc Corp.
InvestingPro Insights
Ohio Valley Banc Corp. (NASDAQ:OVBC) has demonstrated a consistent shareholder return policy, maintaining dividend payments for an impressive 31 consecutive years. This commitment is reflected in the recently declared quarterly cash dividend, marking a continuation of the company’s practice to distribute earnings to shareholders. In addition to its dividend reliability, Ohio Valley Banc Corp. has been profitable over the last twelve months, which further underlines the company’s financial health.
From a valuation standpoint, Ohio Valley Banc Corp. sports a P/E ratio of 9.01, which dipped slightly to 8.74 when adjusted for the last twelve months as of Q1 2024. This may suggest a potentially undervalued stock given the company’s consistent dividend history.
Moreover, the company’s market capitalization stands at 100.67 million USD, with a notable dividend yield of 4.88% as of the latest data, offering an attractive income stream for investors. Lastly, the InvestingPro Fair Value estimate for OVBC is 25.41 USD, which suggests a potential upside from the previous close price of 21.1 USD.
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