FRANKLIN, Ind. - Third Century Bancorp (OTCPINK: TDCB), the parent company of Mutual Savings Bank, has announced a dividend of $0.05 per share. The dividend is earmarked for shareholders on record as of March 15, 2024, with the payment date set for April 2, 2024.
Mutual Savings Bank, which boasts a long history dating back to 1890, is the only locally based financial institution in Johnson County, Indiana. The bank serves its community through a main office located in Franklin, Indiana, and additional branches in Trafalgar and Bargersville.
The declaration of this dividend reflects Third Century Bancorp's ongoing commitment to providing value to its shareholders. It's a continuation of the financial institution's practice of returning a portion of its earnings back to its shareholders.
As a regional bank, Mutual Savings Bank has established a solid presence in its local market, emphasizing personal customer service and community involvement. The bank offers a range of banking services, including personal banking, business banking, and mortgage services.
This announcement is based on a press release statement from Third Century Bancorp. It is important to note that this information should be seen as an update on the company's financial distributions and not as an endorsement of its performance or future prospects. Shareholders and interested parties can expect the dividend to be distributed as stated, barring any unforeseen changes in the company's circumstances or broader economic conditions.
InvestingPro Insights
Third Century Bancorp (OTCPINK: TDCB) has recently made headlines with its declared dividend, underscoring its commitment to shareholder returns. Delving deeper into the company's financials through InvestingPro data provides a broader context for evaluating this regional bank's performance and potential.
InvestingPro data shows that Third Century Bancorp has a market capitalization of $8.66 million, indicating its size within the financial sector. The company's Price to Earnings (P/E) ratio stands at an attractive 6.42, suggesting the stock is trading at a low earnings multiple compared to industry peers. This is further confirmed by an adjusted P/E ratio for the last twelve months as of Q3 2023, which sits at 6.91. Additionally, the bank has a solid track record of maintaining dividend payments, with dividends distributed consistently for 11 consecutive years.
On the flip side, the bank's gross profit margins have been identified as a weak spot, an InvestingPro Tip that investors may wish to consider alongside the dividend news. Despite this, Third Century Bancorp has been profitable over the last twelve months, and it has experienced a strong return over the last month, with a 12.59% price total return, which is a positive signal for short-term investors.
For those seeking a deeper dive into Third Century Bancorp's financials, additional InvestingPro Tips are available, including insights into revenue growth, operating income margins, and return on assets. Discover more in-depth analysis and tips by visiting https://www.investing.com/pro/TDCB, and don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With several more InvestingPro Tips to explore, investors can gain a comprehensive understanding of Third Century Bancorp's financial health and make more informed decisions.
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