Chemical Financial Corporation Announces Third Quarter Cash Dividend
David T. Provost, CEO
Dennis Klaeser, CFO
MIDLAND, Mich., Aug. 17, 2016 (GLOBE NEWSWIRE) -- Chemical Financial Corporation (NASDAQ:CHFC) today announced that the Board of Directors of the Corporation declared a third quarter 2016 cash dividend on its common stock of $0.27 per share, representing a 3.8% increase over the second quarter 2016 cash dividend of $0.26 per share. The third quarter 2016 dividend will be payable on September 16, 2016, to shareholders of record on August 30, 2016. The ex-dividend date is August 26, 2016.
“Chemical Financial Corporation’s enhanced financial performance and balance sheet growth have allowed us to again increase our dividend,” said David B. Ramaker, Chairman, Chief Executive Officer and President of Chemical Financial Corporation. “While we continue to remain conservative in our approach to capital management – an approach that has served our shareholders well throughout the Corporation’s history – the Board of Directors is pleased to support increasing the dividend. We will continue to periodically revisit this issue based on our growth strategies and earnings. As reported in our announcement on August 10, 2016, we continue to anticipate closing our merger with Talmer Bancorp, Inc. on August 31, 2016.”
Chemical Financial Corporation is the second largest banking company headquartered and operating branch offices in Michigan. The Corporation operates through its subsidiary bank, Chemical Bank, with 175 banking offices spread over 47 counties in Michigan. At June 30, 2016, the Corporation had total assets of $9.5 billion. Chemical Financial Corporation's common stock trades on The NASDAQ Stock Market under the symbol CHFC and is one of the issues comprising The NASDAQ Global Select Market. More information about the Corporation is available by visiting the investor relations section of its website at www.chemicalbankmi.com.