Independent Bank Corporation Announces Increase In Quarterly Cash Dividend On Common Stock From $0.23 To $0.24 Per Share

Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock of 24 cents per share. This dividend is payable on February 15, 2024 to shareholders of record on February 5, 2024. The quarterly dividend represents a 4% increase over the quarterly dividend rate paid for each quarter in 2023.

 

William B. ("Brad") Kessel, the President and Chief Executive Officer of Independent Bank Corporation, commented: "This marks the eleventh consecutive annual increase in our dividend for our shareholders. Our consistent long-term operating performance, a strong capital position and an optimistic outlook for our future supports our board's decision for this dividend increase."