Southern Michigan Bancorp raises quarterly cash dividend to 16c per share

The Board of Directors of Southern Michigan Bancorp (SOMC) approved an increase to the quarterly cash dividend that will be paid in April 2025. The $0.16 per share dividend is an increase of $0.01 per share over the January 2025 cash dividend payment of $0.15 per share. The dividend is payable on April 18, 2025, to shareholders of record April 4, 2025. The annualized cash dividend of $0.64 per share represents a 3.37% dividend yield based on the current market price of $19.00 per share.