In a recent filing with the Securities and Exchange Commission, Old Second Bancorp Inc. (NASDAQ:OSBC) disclosed that its Board of Directors has declared a quarterly cash dividend. Today, the company announced a dividend of $0.06 per share, which is slated for distribution on February 10, 2025. Stockholders who are on record as of January 31, 2025, will be eligible to receive the dividend. According to InvestingPro data, the company has maintained dividend payments for 9 consecutive years, with the current annual dividend yield standing at 1.32%.
This announcement is consistent with Old Second Bancorp's practice of returning value to its shareholders and reflects the company's financial health and commitment to its dividend policy. The declaration of dividends is a common practice among established firms, indicating a stable financial position and confidence in future earnings. InvestingPro analysis shows the company maintains a strong financial health score of GREAT, with a P/E ratio of 9.87 and a market capitalization of $828 million.
Old Second Bancorp, headquartered in Aurora, Illinois, operates within the state commercial banks sector under the standard industrial classification code 6022. The company is incorporated in Delaware and has provided its business contact as 37 S River St, Aurora, IL, with a business phone number of 630-892-0202.
InvestingPro reports that 4 analysts have revised their earnings upward for the upcoming period, with price targets ranging from $20 to $24 per share. For deeper insights into OSBC's valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Old Second Bancorp has announced several significant developments. The company is set to release its financial results for the fourth quarter of 2024, with analysts forecasting an EPS of $1.98 for the fiscal year. Following the release, an earnings call will be held to discuss the company's performance and future outlook.
In addition, Old Second Bancorp has been upgraded by Raymond (NSE:RYMD) James from Outperform to Strong Buy, based on factors such as a resilient net interest margin and strategic market share gains. The company has also initiated a new stock repurchase program, authorized by its Board of Directors, which allows for the repurchase of up to $39.1 million of its common stock.
Moreover, Old Second Bancorp reported strong financial results for the third quarter of 2024, with net income reaching $23 million and a 20% increase in its common dividend. The company is aiming for mid-single-digit organic loan growth and projects expense growth of 3-5% next year.
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