WAUSAU, Wis. - PSB Holdings, Inc. (OTCQX: PSBQ), the parent company of Peoples State Bank, announced Monday an increase in its regular semi-annual cash dividend to $0.32 per share, a 6.7% rise from the previously declared $0.30 per share. This dividend, payable on July 31, 2024, to shareholders of record as of July 11, 2024, extends the company's history of consecutive dividend growth to 31 years.
The announcement follows what PSB President and CEO Scott M. Cattanach described as "another solid quarter of operating performance." He expressed gratitude to the shareholders for their continued support and anticipated further profitable operations.
Peoples State Bank, a community-focused financial institution with eleven full-service banking locations in Wisconsin, operates under PSB Holdings. The bank offers a range of financial services, including investment and insurance products through Peoples Wealth Management.
This decision to increase the dividend reflects the company's sustained commitment to providing value to its shareholders, a practice that has been maintained for 60 years. PSB Holdings, traded on the OTCQX Market under the ticker symbol PSBQ, has emphasized its growth and performance strategy, even as it acknowledges the potential risks and uncertainties in the market, including economic conditions and the ongoing impacts of the COVID-19 pandemic.
The information contained in this article is based on a press release statement from PSB Holdings, Inc.
InvestingPro Insights
PSB Holdings, Inc. (PSBQ) continues to demonstrate a strong commitment to shareholder returns, as evidenced by its recent dividend increase. This move is in line with the company's long-standing tradition of rewarding investors, which is further reflected by its impressive track record of raising dividends for 10 consecutive years. In fact, PSB Holdings has maintained dividend payments for an astounding 22 consecutive years, showcasing the company's financial resilience and dedication to consistent shareholder value.
Investors looking for stability might find comfort in PSB Holdings' low price volatility, which suggests that the stock could be a potentially less risky investment in a turbulent market. Additionally, PSB Holdings is trading near its 52-week low, which could signal a buying opportunity for value investors considering the company's profitability over the last twelve months.
From a valuation standpoint, PSB Holdings is currently positioned with a P/E ratio of 9.43, slightly below the adjusted P/E ratio for the last twelve months as of Q4 2023, which stands at 9.97. This metric, coupled with the company's price/book ratio of 0.84, may indicate that the stock is reasonably valued in relation to its earnings and book value.
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