By Katherine Hamilton
Lakeland Financial, the parent of Lake City Bank parent, is raising its cash dividend by 4% for the first quarter of 2025, the bank said Tuesday.
The Warsaw, Ind., company plans to pay out a quarterly dividend of 50 cents a share on Feb. 5.
The payout, equal to $2 a year, represents an annual yield of about 3% based on Monday's closing price of $66.60.
Lakeland Financial's dividends were 48 cents in 2024, which was also a 4% increase from the 2023 rate. The compounded annual growth rate has been 11% over the past five years, Chief Executive David Findlay said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
January 14, 2025 14:23 ET (19:23 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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