Orange County Bancorp Rewards Shareholders With 8.7% Dividend Hike

Core Viewpoint - Orange County Bancorp, Inc. (OBT) has announced an 8.7% increase in its cash dividend to 25 cents per share, reflecting strong financial health and a commitment to enhancing shareholder value [1][5]. Dividend Information - The new dividend of 25 cents per share will be paid on December 16, 2024, to shareholders of record as of December 4, 2024 [1]. - Prior to this increase, OBT raised its dividend by 15% to 23 cents per share in November 2022 [1]. - The current dividend yield is 1.55%, based on a closing price of $59.38 as of November 25, 2024 [2]. Financial Position - As of September 30, 2024, OBT reported cash and due from banks totaling $160.9 million, with total loans at $1.8 billion and total deposits at $2.1 billion [3]. - The bank's short and long-term borrowings amounted to $92 million [3]. - OBT maintains capital ratios above regulatory standards, with a Tier 1 capital to average assets ratio of 10.06% and total capital to risk-weighted assets at 14.89% [4]. Performance and Outlook - The increase in dividends is attributed to the company's strong performance and stability, indicating a positive outlook for sustaining capital distribution activities [5]. - Over the past six months, OBT's shares have risen by 25.3%, compared to the industry's growth of 33.1% [6].