Dimeco de­clares 38-cent div­i­dend

The Times-Tribune - - Business - — JON O’CON­NELL

Dimeco Inc., par­ent com­pany of The Dime Bank, has de­clared a 38-cents-per share div­i­dend in the fourth quar­ter.

Dimeco will pay the div­i­dend to share­hold­ers of record on Jan. 25, bring­ing the bank’s to­tal 2016 div­i­dend to $1.52 per share, ac­cord­ing to a Fri­day news re­lease.

The div­i­dend pro­duces a 3.45 per­cent yield based on Dimeco’s Dec. 15 mar­ket value of $44 per share, ac­cord­ing to the news re­lease.

Dimeco’s as­sets at the close of the third quar­ter to­taled $638 mil­lion, loans to­taled $490 mil­lion and de­posits, $508 mil­lion.

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