Perpetual Federal Savings Bank announces quarterly dividend.

Urbana bank announces quarterly dividend

Perpetual Federal Savings Bank in Urbana has announced that it will pay a regular quarterly dividend of $0.24 per share for the period ending June 30.

This marks an increase of 4.3 percent over the dividend paid for the same period in 2018.

MORE: Urbana bank reports second quarter earnings are up

After a thorough review of the retained earning position of the bank, the board of directors of Perpetual Federal Savings Bank voted in favor of also paying a special dividend of $0.26 per share.

The total dividend of $0.50 will be payable June 20 to shareholders of record at the close of business on May 31, according to the bank.

The bank has in excess of $394 million in assets and in excess of $75 million in shareholders’ equity as of the dividend declaration and remains well capitalized under federal banking guidelines.

The bank continues to receive a five-star rating by Bauer Financial, Inc., the nation’s leading independent bank rating firm, according to the bank.

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