Southern Michigan Bancorp increases quarterly dividend to 14c per share

The Board of Directors of Southern Michigan Bancorp approved an increase to the quarterly cash dividend that will be paid in April 2023. The 14c per share dividend is an increase of 1c per share over the January 2023 cash dividend payment of 13c per share. The dividend is payable on April 21, 2023 to shareholders of record April 10, 2023. The annualized cash dividend of 56c per share represents a 3.01% dividend yield based on the current market price of $18.61 per share.