GALLIPOLIS, Ohio - Ohio Valley Banc Corp. (NASDAQ:OVBC), the parent company of The Ohio Valley Bank Company and Loan Central, Inc., announced a cash dividend of $0.22 per common share. The dividend is set for distribution on May 10, 2024, to shareholders who are on record by the close of business on April 26, 2024.
The declaration of this dividend follows a tradition of the company rewarding its shareholders and reflects the company's financial health. Tom Wiseman, OVBC Chairman of the Board, expressed confidence in the company's ability to navigate the changing economic landscape, attributing success to the dedicated team at Ohio Valley Banc Corp.
Ohio Valley Banc Corp. operates 17 bank offices across Ohio and West Virginia through The Ohio Valley Bank Company. Additionally, it owns Loan Central, Inc., which has six consumer finance offices in Ohio. The company's commitment to its shareholders and community support has been a cornerstone of its operations.
This financial move comes as part of the company's regular practice of providing returns to its shareholders and indicates a stable financial position as it moves forward into the rest of the year.
The information provided in this article is based on a press release statement from Ohio Valley Banc Corp.
InvestingPro Insights
In light of Ohio Valley Banc Corp.'s recent dividend announcement, a look at the company's financial metrics provides a broader context for its performance and future prospects. According to InvestingPro data, Ohio Valley Banc Corp. has a market capitalization of $114.33 million and maintains a price-to-earnings (P/E) ratio of 9.05 as of the last twelve months ending Q4 2023.
This valuation metric suggests that the company's shares are trading at a multiple that is reflective of its earnings.
Furthermore, the company's commitment to shareholder returns is underscored by an impressive streak of dividend payments, with OVBC having maintained dividend payments for 31 consecutive years—an InvestingPro Tip that highlights the company's dedication to its investors. Additionally, OVBC has been profitable over the last twelve months, which is a positive sign for investors looking for stable earnings.
Investors might also note that the company's revenue saw a growth of 2.9% over the last twelve months as of Q4 2023, with a more significant quarterly revenue growth of 9.94% in Q4 2023. This indicates a healthy upward trajectory in the company's earning capacity. Meanwhile, the dividend yield stands at a notable 4.4%, as of the latest data point in 2024, which may be attractive to income-focused investors.
For those looking to delve deeper into Ohio Valley Banc Corp.'s financials and for additional InvestingPro Tips, visit https://www.investing.com/pro/OVBC. There are more tips available to help you make informed investment decisions. Plus, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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