Dimeco, Inc. Announces Earnings at September 30, 2023 Dimeco, Inc. (OTCQX: DIMC), the parent holding company of The Dime Bank, announces earnings for the period ending September 30, 2023. Total assets of $986 million on September 30, 2023 increased $24.5 million or 2.6% over balances on September 30, 2022. The loan portfolio increased $42 million or 6.3% over balances a year earlier. Total deposits decreased 5.2% or $43 million from balances on September 30, 2022. Net income was $7.2 million for the first nine months of 2023, resulting in a return on average assets of 1.00% and a return on average shareholders’ equity of 10.47% for the nine months ended September 30, 2023. The Board of Directors declared dividends totaling $1.14 per share during the past nine months, which produced a dividend yield of 4.52% on September 30, 2023. Dividends are up 5.6% over the amount paid in 2022. President & Chief Executive Officer Pete Bochnovich stated, “I am pleased to present the results for Dimeco, Inc. through the first three quarters of 2023. As the current economic scenario continues, management looks for opportunities to grow and position Dimeco for future success. We thank our customers, shareholders, staff, and the community for their continued commitment.”
Dimeco, Inc. Declares Cash Dividend Honesdale, PA, September 14, 2023 / The Board of Directors of Dimeco, Inc. (OTCQX: DIMC) declared a dividend on September 13, 2023, of $0.38 per share to shareholders of record September 29, 2023. The dividend is payable on October 26, 2023, the anticipated date to release earnings for the third quarter of 2023. This dividend is an increase of $0.02 per share over the dividend declared in September 2022. This dividend of $0.38 per share produced a yield of 4.53% at the market value of $33.52 on September 13, 2023. President and Chief Executive Officer Peter Bochnovich stated, “We continue our commitment to provide the ultimate banking experience to our customers and our communities. This dividend is one way to thank our shareholders for their continued investment in and loyalty to Dimeco, Inc.” About Dimeco, Inc. Dimeco, Inc. is the parent holding company of The Dime Bank, a full-service financial institution serving Northeast Pennsylvania since 1905. Dimeco, Inc. reported balances on June 30, 2023, of $969 million in total assets, loans of $686 million, and deposits of $795 million. Dimeco, Inc. trades on the OTCQX Marketplace under symbol ‘DIMC’, operated by OTC Markets Group. For more information on Dimeco, Inc. and The Dime Bank, visit www.thedimebank.com.
DIMECO, INC. Declares Cash Dividend On March 23, 2023, The Board of Directors of Dimeco, Inc. (OTCQX: DIMC) declared a dividend of $.38 per share for the first quarter of 2023, which represents a dividend yield of 4.05% based on the closing stock price of $37.50. The dividend is payable on April 27, 2023, to shareholders of record on April 6, 2023. This dividend is an increase of $0.02 per share, or 5.56% over the dividend declared for the same period 2022. President and Chief Executive Officer Peter Bochnovich, stated, “Our shareholders’ investment is the foundation for the sustained growth of Dimeco, Inc. The increased dividend is our way to show that we value their continued support and commitment.”
