MUNCY, Pa.--(BUSINESS WIRE)--Muncy Bank Financial, Inc. (OTC:MYBF):
Special 5% Stock Dividend
Muncy Bank Financial, Inc. (OTC:MYBF), the parent company of The Muncy Bank and Trust Company, today announced that its Board of Directors approved a special one-time 5% stock dividend. The special dividend is payable on March 15, 2021 to shareholders of record on March 5, 2021.
“Muncy Bank's board is pleased to recognize and reward our shareholders with this special stock dividend. We had strong earnings in 2020 and remain committed to creating shareholder value,” stated Robert J. Glunk, President and CEO. “The special 5% dividend will give a shareholder who owns 1,000 shares of MYBF stock on March 5, 2021 an additional 50 shares without creating a taxable event,” Glunk explained.
First Quarter 2021 Cash Dividend
During the same meeting, the company’s Board of Directors also declared its regular quarterly cash dividend of $0.36 per share for the first quarter 2021, compared to $0.35 for the same period in 2020. The first quarter cash dividend is payable on March 15, 2021 to shareholders of record on March 5, 2021, the same dates as the Special 5% Dividend.
“The benefit of the special 5% stock dividend will be obvious when the first quarter 2021 cash dividend is paid,” Glunk stated, “Shareholders will receive a $0.36 cash dividend per share on 1,050 shares of MYBF stock, instead of the original 1,000 shares owned.”
About Muncy Bank Financial Inc.
Muncy Bank Financial, Inc. is the bank holding company for The Muncy Bank & Trust Company. The Muncy Bank & Trust Company serves customers through their retail banking, commercial banking, and financial services divisions. Muncy Bank offices are located in the communities of Muncy, Clarkstown, Hughesville, Montoursville, Dewart, Avis, Linden and Montgomery. A new Muncy Bank office is scheduled to open in South Williamsport during 2022.