TowneBank (NASDAQ: TOWN) declared a quarterly cash dividend of $0.28 per common share for the third quarter, the bank said in a filing on Aug. 26.
The dividend is scheduled to be paid on Oct. 9 to shareholders of record as of Sept. 25. TowneBank, headquartered in Suffolk, Virginia, operates across more than 70 branches in Virginia, North Carolina and South Carolina.
As of June 30, the bank’s total assets stood at $22.62 billion, according to the announcement. The company was founded in 1999.
Future dividend declarations remain subject to approval by the board of directors and compliance with regulatory restrictions.
