RENO, NV - Plumas Bancorp (NASDAQ:PLBC), a Nevada-based financial institution, has declared a quarterly cash dividend of $0.27 per common share. The dividend is payable on November 15, 2024, to shareholders of record as of the close of business on November 1, 2024.
The payment of dividends is a common practice among publicly traded companies, allowing them to distribute a portion of their earnings back to their shareholders. The dividend yield and the payout ratio are key indicators for investors when assessing the sustainability of a dividend.
This dividend declaration is based on a press release statement and the details filed in the Form 8-K with the SEC.
In other recent news, Plumas Bancorp, a California-based financial institution, ended its property sale deal with Mountainseed Real Estate Services, LLC.
The agreement, initially set in 2024, involved the sale of three properties operated by Plumas Bank, a wholly-owned subsidiary of Plumas Bancorp, for approximately $7.9 million. However, the two parties mutually agreed to terminate the agreement, which does not impact another transaction involving nine branch office properties.
InvestingPro Insights
Plumas Bancorp's recent dividend declaration aligns with its consistent dividend history, as highlighted by InvestingPro data. The company has maintained dividend payments for 9 consecutive years and has raised its dividend for 3 consecutive years, demonstrating a commitment to shareholder returns. This consistency is particularly noteworthy given the current dividend yield of 2.6%.
InvestingPro Tips reveal that Plumas Bancorp has shown significant return over the last week, with a 7.76% price total return. This recent performance contributes to a strong 22.3% return over the past year. The company's P/E ratio of 8.35 suggests that the stock may be undervalued compared to its earnings, which could be of interest to value-oriented investors.
While the company has shown solid financial performance, with a profitable last twelve months and an operating income margin of 48.19%, InvestingPro Tips also indicate that analysts anticipate a sales decline in the current year. This forecast, along with the expectation of a drop in net income, may explain why the stock is trading at 92.27% of its 52-week high.
For investors seeking a more comprehensive analysis, InvestingPro offers 6 additional tips that could provide deeper insights into Plumas Bancorp's financial health and future prospects.
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