The Dime Bank Announces Cash Dividend

On March 21, 2024, The Board of Directors of Dimeco, Inc. (OTCQX: DIMC) and its subsidiary The Dime Bank declared a dividend of $.40 per share for the first quarter of 2024, which represents a dividend yield of 4.64% based on the closing stock price of $34.50. The dividend is payable on April 25, 2024, to shareholders of record on April 1, 2024. This dividend is an increase of $0.02 per share, or 5.26% over the dividend declared for the same period 2023. 

President and Chief Executive Officer Peter Bochnovich, stated, “Our shareholders play a crucial role in the success of Dimeco, Inc. Their investment empowers us to be innovative within our industry and bring the best financial services to our communities. This dividend shows our gratitude for their unwavering commitment and trust in our company.”

Dimeco, INC. on OTCQX Investment Market

The Board of Directors of Dimeco, Inc. is pleased to announce that Dimeco, Inc. (OTCQX: DIMC), the parent holding company of The Dime Bank, a Pennsylvania state-chartered bank that serves Northeast Pennsylvania, has qualified to trade on the OTCQX® Best Market. Dimeco, Inc. upgraded to OTCQX from the Pink® market.

Dimeco, Inc. begins trading today on OTCQX under the symbol “DIMC.”  U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com/stock/DIMC.

Graduating to the OTCQX Market marks an important milestone for community banks in the U.S. public markets. The OTCQX Market enables banks to maximize the value of being a public company by providing transparent trading and easy access to company information for shareholders. To qualify for OTCQX, community banks must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

President and Chief Executive Officer of Dimeco, Inc. and The Dime Bank, Peter Bochnovich stated, “At The Dime Bank, we believe in creating amazing customer experiences and that intention encompasses our shareholders, too. Since 1905, we have been making a difference in the lives of those we touch by helping generations of customers realize their goals and dreams. We want our Dimeco investors and potential investors to have access to financial information that is easy to understand and helpful in making their investment decisions. We aim to generate broader recognition by investors, enhance shareholder value, and emphasize The Dime Bank’s commitment to the communities we serve.”

Boenning & Scattergood, Inc. acted as the company’s OTCQX sponsor.