JEFFERSON CITY, Mo.--(BUSINESS WIRE)--Hawthorn Bancshares of Jefferson City, MO (NASDAQ: HWBK) announced today that its Board of Directors approved an increase in the quarterly cash dividend of $0.01 per share, or 16.7%, to a total of $0.07 per share, payable July 1, 2017 to shareholders of record at the close of business on June 15, 2017. Chairman David T. Turner stated “Hawthorn increased the dividend from $0.05 per share to $0.06 per share on January 1, 2017 in order to increase the return to our shareholders. As earnings and capital adequacy ratios continue to improve, the Board of Directors believes it is appropriate to increase the dividend again to $0.07 per share.” The Board also approved a special stock dividend of 4% payable July 1, 2017 to shareholders of record at the close of business on June 15, 2017.
About Hawthorn Bancshares
Hawthorn Bancshares, Inc., a financial-bank holding company headquartered in Jefferson City, Missouri, is the parent company of Hawthorn Bank of Jefferson City, Missouri with locations in the Missouri communities of Lee's Summit, Liberty, Springfield, Branson, Independence, Columbia, Clinton, Windsor, Osceola, Warsaw, Belton, Drexel, Harrisonville, California and St. Robert, Missouri.
Statements made in this press release that suggest Hawthorn Bancshares' or management's intentions, hopes, beliefs, expectations, or predictions of the future include "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those projected in such forward-looking statements is contained from time to time in the company's quarterly and annual reports filed with the Securities and Exchange Commission.