WARSAW, Ind., Jan. 14, 2025 (GLOBE NEWSWIRE) -- 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 2025 of $0.50 per share, payable February 5, 2025, to shareholders of record as of January 25, 2025. The quarterly dividend represents a 4% increase over the quarterly dividend rate of $0.48 per share paid in 2024.
"We are pleased to announce another increase to our common stock dividend. Our compounded annual growth rate has been 11% over the last five years contributing meaningfully to our total return to shareholders,” commented David M. Findlay, Chairman and Chief Executive Officer. "Our capital provides a solid foundation for continued organic loan growth as well as making it possible to increase our dividend for shareholders.”
Lake City Bank, a $6.7 billion bank headquartered in Warsaw, Indiana, was founded in 1872 and serves Central and Northern Indiana communities with 54 branch offices and a robust digital banking platform. Lake City Bank's community banking model prioritizes building in-market long-term customer relationships while delivering technology-forward solutions for retail and commercial clients. The bank is the single bank subsidiary of Lakeland Financial Corporation (Nasdaq Global Select/LKFN). For more information visit www.lakecitybank.com.
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Contact
Lisa M. O'Neill
Executive Vice President and Chief Financial Officer
(574) 267-9125
