Banking... Wherever, Whenever!
On December 18, 2020, Landmark Community Bancorp Inc.’s Board of Directors announced that it has reinstated the Company’s quarterly cash dividend of $.08 per common share for the fourth quarter of 2020, reflecting the Company’s strong capital position and earnings generation during 2020. For shareholders of record as of January 4, 2021, the dividend will be payable on January 12, 2021. Based on the $10.75 closing price of Landmark Community Bancorp, Inc.’s stock on December 17, 2020, the declaration date, this represents an annualized yield of 2.38%.
Based upon improved profitability with asset quality metrics remaining consistent with pre-COVID levels, the Company believes that its dividend capacity is strong and reinstatement of the quarterly dividend is appropriate. Our Board of Directors is committed to providing shareholders with a meaningful dividend as part of our value proposition.
Warning About Forward-Looking Statements
In addition to historical information, this document may contain forward-looking statements. Examples of forward-looking statements include, but are not limited to, (a) projections or statements regarding future earnings, expenses, net interest income, other income, earnings or loss per share, asset mix and quality, growth prospects, capital structure, and other financial terms, (b) statements of plans and objectives of management or the Board of Directors, and (c) statements of assumptions, such as economic conditions in the Corporation’s market areas. Such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “intends”, “will”, “should”, “anticipates”, or the negative of any of the foregoing or other variations thereon or comparable terminology, or by discussion of strategy. Forward-looking statements are subject to certain risks and uncertainties such as local economic conditions, competitive factors, and regulatory limitations. Actual results may differ materially from those projected in the forward-looking statements. We caution readers not to place undue reliance on these forward-looking statements. They only reflect management’s analysis as of this date. In additional to risks and uncertainties related to the COVID-19 pandemic and resulting governmental and societal responses, factors which could cause the actual results of the Corporation’s operations to differ materially from expectations include, but are not limited to, the following: the effects of new laws and regulations; effects of short- and long-term federal budget and tax negotiations and their effect on economic and business conditions; the effect of changes in accounting policies and practices; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in our market area and elsewhere; technological changes; the interruption or breach in security of our information systems and other technological risks and attacks resulting in failures or disruptions in customer account management, general ledger processing and loan or deposit updates and potential impacts resulting therefrom including additional costs, reputational damage, regulatory penalties, and financial losses; ineffectiveness of the business strategy due to changes in current or future market conditions; the effects of economic deterioration on current customers, specifically the effect of the economy on loan customers’ ability to repay loans; the effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; interest rate movements; volatilities in the securities markets; slow economic conditions; and acts of war or terrorism. The Corporation does not revise or update these forward-looking statements to reflect events or changed circumstances.