MILLERSBURG, Ohio - CSB Bancorp, Inc. (OTC Pink: CSBB), a financial holding company, announced its Board of Directors has declared a fourth quarter cash dividend. Shareholders are set to receive $0.40 per share, which will be payable on December 17, 2024, to those holding shares as of the record date, December 3, 2024.
The Ohio-based company, with approximately $1.2 billion in assets as of September 30, 2024, operates through its subsidiary, The Commercial and Savings Bank. CSB Bancorp serves consumers and businesses, offering a spectrum of banking and financial services. Their network includes sixteen banking centers across Holmes, Stark, Tuscarawas, and Wayne counties, along with Trust offices in Millersburg, North Canton, and Wooster, and a loan production office in Medina.
This dividend announcement follows CSB Bancorp's continued efforts to provide value to its shareholders and reflects the company's financial stability and commitment to returning capital to its investors. The payment in December marks the continuation of the company's practice of distributing quarterly dividends to its shareholders.
CSB Bancorp, Inc. is known for its community-oriented banking services and has a significant presence in the region with a range of financial products and services tailored to meet the needs of both individual consumers and local businesses.
The information provided here is based on a press release statement from CSB Bancorp, Inc. Investors and shareholders are advised to consider this announcement as they manage their investment portfolios. CSB Bancorp has a history of consistent dividend payments, and this latest declaration is in line with their established pattern of shareholder remuneration.
In other recent news, CSB Bancorp, Inc. has announced a minor increase in its quarterly cash dividend. The dividend has seen a rise of $0.01, bringing it to a total of $0.40 per share. This updated dividend is slated for payment on September 17, 2024, to shareholders recorded as of September 3, 2024.
In addition to this, the Ohio-based financial holding company has reported assets amounting to roughly $1.2 billion as of June 30, 2024. This recent development aligns with the company's regular financial activities and signifies its financial stability and dedication to delivering value to its shareholders.
It's important to note that the increment in CSB Bancorp's dividend might be interpreted as a favorable sign by investors. This information, derived from a press release statement by CSB Bancorp, Inc., highlights the company's recent developments.
InvestingPro Insights
CSB Bancorp's recent dividend announcement aligns with its financial performance and market position. According to InvestingPro data, the company's dividend yield stands at 4.15%, with a dividend growth of 5.26% over the last twelve months. This demonstrates CSB Bancorp's commitment to returning value to shareholders, despite facing some challenges.
InvestingPro Tips highlight that CSB Bancorp is a prominent player in the Banks industry, which supports its ability to maintain dividend payments. However, the company is experiencing a sales decline in the current year, with revenue growth at -8.76% over the last twelve months. This could explain why the stock is trading near its 52-week low, with a price at 93.9% of its 52-week high.
Despite these headwinds, CSB Bancorp remains profitable, with a P/E ratio of 9.02, suggesting a relatively low valuation compared to earnings. The company's price-to-book ratio of 0.89 indicates that it may be undervalued relative to its book value, which could be of interest to value-oriented investors.
It's worth noting that while CSB Bancorp faces some challenges, including weak gross profit margins, it has maintained profitability over the last twelve months. Analysts predict the company will remain profitable this year, which could support its dividend policy going forward.
For investors seeking a more comprehensive analysis, InvestingPro offers 9 additional tips for CSB Bancorp, providing a deeper understanding of the company's financial health and market position.
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