Lake City Bank Parent Announces 16% Increase in Quarterly Dividend
Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, announced that the Board of Directors approved a quarterly cash dividend for the first quarter of 2019 of $0.30 per share, payable on May 6, 2019 to shareholders of record as of April 25, 2019. The quarterly dividend represents a 16% increase over the quarterly dividend rate paid in 2018.
“We are pleased to continue our history of double digit dividend increases for our shareholders. The dividend increase is the outcome of consistent long-term growth in earnings and its positive impact to our capital base. Over the last decade, we have increased our dividend by 190%,” said David M. Findlay, President and Chief Executive Officer.
Lake City Bank, a $4.9 billion bank headquartered in Warsaw, Indiana, is the fourth largest bank in the state, and the largest bank 100% invested in Indiana. Lake City Bank operates 50 branch offices in northern and central Indiana, delivering technology-driven solutions in a client-centric way to individuals and businesses. The bank is the single bank subsidiary of Lakeland Financial Corporation (Nasdaq Global Select/LKFN).
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