Unleashing Growth Potential: Summit State Bank Surpasses Expectations with Strong Performance and Increasing Profits
Today, February 15, 2024, Summit State Bank (NASDAQ:SSBI) will distribute a dividend payout of $0.12 per share, highlighting an annualized dividend yield of 4.03%. Shareholders who owned the stock before the ex-dividend date on February 07, 2024 will be eligible for this payout.
Summit State Bank Recent Dividend Payouts
| Ex-Date | Payments per year | Dividend | Yield | Announced | Record | Payable |
|---|---|---|---|---|---|---|
| 2024-02-07 | 4 | $0.12 | 4.03% | 2024-01-29 | 2024-02-08 | 2024-02-15 |
| 2023-11-08 | 4 | $0.12 | 3.37% | 2023-10-24 | 2023-11-09 | 2023-11-16 |
| 2023-08-09 | 4 | $0.12 | 2.77% | 2023-07-24 | 2023-08-10 | 2023-08-17 |
| 2023-05-10 | 4 | $0.12 | 3.4% | 2023-04-24 | 2023-05-11 | 2023-05-18 |
| 2023-02-08 | 4 | $0.12 | 3.06% | 2023-01-23 | 2023-02-09 | 2023-02-16 |
| 2022-11-09 | 4 | $0.12 | 3.24% | 2022-10-25 | 2022-11-10 | 2022-11-17 |
| 2022-08-10 | 4 | $0.12 | 3.08% | 2022-07-25 | 2022-08-11 | 2022-08-18 |
| 2022-05-11 | 4 | $0.12 | 2.91% | 2022-04-25 | 2022-05-12 | 2022-05-19 |
| 2022-02-09 | 4 | $0.12 | 3.14% | 2022-01-24 | 2022-02-10 | 2022-02-17 |
| 2021-11-09 | 4 | $0.12 | 2.81% | 2021-10-26 | 2021-11-11 | 2021-11-18 |
| 2021-08-12 | 4 | $0.11 | 2.97% | 2021-07-27 | 2021-08-13 | 2021-08-20 |
| 2021-05-13 | 4 | $0.11 | 2.89% | 2021-04-26 | 2021-05-14 | 2021-05-21 |
When comparing Summit State Bank's dividend yield against its industry peers, the company sits comfortably in the middle, with its peer Territorial Bancorp (NASDAQ:TBNK) having the highest annualized dividend yield at 6.23%.
Analyzing Summit State Bank Financial Health
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing.
YoY Growth in Dividend Per Share
The company demonstrated a positive dividend growth pattern from 2020 to 2023, with the dividend per share rising from $0.44 to $0.48. This signifies the company's commitment to consistently increasing shareholder dividends.
YoY Earnings Growth For Summit State Bank
The earnings chart illustrates an increase in Summit State Bank's earnings per share, from $1.42 in 2020 to $2.02 in 2023. This positive earnings growth provides income-seeking investors with optimism, as it suggests potential for higher cash dividend payouts in the future.
Recap
In this article, we explore the recent dividend payout of Summit State Bank and its significance for shareholders. The company has decided to distribute a dividend of $0.12 per share today, which equates to an annualized dividend yield of 4.03%.
When comparing Summit State Bank's dividend yield against its industry peers, the company sits comfortably in the middle, with its peer Territorial Bancorp having the highest annualized dividend yield at 6.23%.
Given that Summit State Bank has experienced an increase in dividend per share from 2020 to 2023 along with an increase in earnings per share, it could signal that the company is in good financial standing and that they could be positioned to continue distributing their profits back to their investors.
Investors are advised to closely monitor the company's performance in the upcoming quarters to stay informed about any fluctuations in financials or dividend disbursements.
\To stay up-to-date with the companies that are announcing their dividends, click here to visit our Dividends Calendar.
This article was generated by Benzinga's automated content engine and reviewed by an editor.