HONESDALE - The Board of Directors of Dimeco, Inc. (DIMC) declared a dividend of $.38 per share to shareholders of record September 30, 2014.
The dividend is payable on October 24, 2014, the anticipated date to release earnings for the third quarter of 2014. Maintaining the dividend at a level of $.38 per share produced a yield of 3.80% at the market value of $40.00 on September 11, 2014, the declaration date.
Gary C. Beilman, president and chief executive officer of Dimeco, Inc. and The Dime Bank commented, “It is the goal of our Board to enhance shareholder investment by consistently producing handsome dividend yields.
Our efforts remain directed towards building a stronger institution through continued profitability, growth, and improved asset quality.”
Dimeco, Inc. reported balances at June 30, 2014 of $608 million in total assets, loans of $460 million, and deposits of $485 million.
The Dime Bank, a wholly owned subsidiary of Dimeco, Inc., serves Northeast Pennsylvania and offers a full array of financial services including traditional banking products, innovative electronic banking services, and a wealth management division.
For more information on Dimeco, Inc. and The Dime Bank, visit www.thedimebank.com.