RENO, NV – Plumas Bancorp (NASDAQ:PLBC), a financial institution specializing in short-term business credit with a market capitalization of $275 million, announced on Wednesday that its Board of Directors has declared a quarterly cash dividend of $0.30 per common share, representing a 2.32% yield. The dividend is payable on February 17, 2025, to shareholders of record as of the close of business on February 3, 2025.
This declaration reflects the company's commitment to delivering value to its shareholders and its confidence in the financial stability of the company. According to InvestingPro data, Plumas Bancorp has maintained dividend payments for 9 consecutive years and has raised its dividend for 4 straight years, demonstrating a strong track record of shareholder returns.
The announcement of the dividend was made in a filing with the Securities and Exchange Commission today, January 16, 2025.
Plumas Bancorp, with headquarters located at 5525 Kietzke Lane, Suite 100, Reno, Nevada, operates under the IRS Employer Identification No. 75-2987096. It is incorporated in the state of California and has set its fiscal year-end on December 31.
The financial institution's business phone is listed as (775) 786-0907, and the dividend announcement is part of a broader 8-K filing, a regulatory requirement for publicly traded companies to disclose certain significant events.
Dividends are a way for companies to distribute a portion of their earnings back to their shareholders and can serve as an indicator of a company's financial health and its board's outlook on future earnings. With a P/E ratio of 9.32 and revenue growth of 4.55% in the last twelve months, Plumas Bancorp shows solid financial metrics.
InvestingPro analysis reveals additional insights about the company's financial health, with subscribers gaining access to over 30 key metrics and exclusive investment tips. Plumas Bancorp's decision to issue a dividend is based on the current report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
The information regarding the dividend declaration is based on a press release statement, and it provides shareholders with important details concerning the upcoming dividend payment, including the amount, payment date, and record date.
Investors in Plumas Bancorp can expect to receive the declared dividend if they are on the company's books by the record date in early February. The company's shares are traded on the NASDAQ Capital Market under the ticker symbol PLBC.
In other recent news, Plumas Bancorp's fourth-quarter earnings for 2024 surpassed expectations, leading to Raymond (NS:RYMD) James raising the company's target to $49. The bank's net interest margin (NIM) significantly exceeded industry averages, backed by strong core trends and effective management strategies. Raymond James also noted the strength of Plumas Bancorp's balance sheet with a 17.3% common equity tier 1 (CET1) ratio and a 10.6% tangible common equity (TCE) ratio.
Plumas Bancorp has introduced an incentive plan for 2025, aiming to reward employees based on the company's financial performance. The plan includes two bonus pools for officers and other qualifying employees, with payouts contingent on surpassing the median return on assets (ROA) within its peer group.
In other developments, Plumas Bancorp has announced the retirement of a long-serving director, Reeson, in line with the company's Corporate Governance Guidelines. The company also replaced its certifying accountant for the Plumas Bank 401(k) Profit Sharing Plan, dismissing Eide Bailly LLP and appointing Elliot Davis, LLC for the Plan's fiscal year ending December 31, 2024.
Lastly, Plumas Bancorp mutually agreed to terminate a property sale agreement with Mountainseed Real Estate Services, LLC, which involved the sale of three properties operated by Plumas Bank.
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