Auburn National hikes dividend by 2%

Auburn National Bancorporation (AUBN) will raise its quarterly dividend by 2.0 percent to 26 cents per share in 2021. This follows a similar hike to $0.255 per share in the first quarter of 2020 and marks 20 consecutive years of dividend increases by the Alabama state-chartered bank.

The next dividend is payable March 25, 2021 to shareholders of record as of March 10, 2021. The new annual dividend of $1.04 per share yields 2.6% at a stock price of $39.29.

Auburn National Bancorporation will pay its shareholders approximately $4 million in dividends annually. The avarage dividend growth rate in the last five years is 2.9 percent annually. Dividend growth has slowed in the last two years with the smallest annual hikes announced since at least 2007.

Auburn National Bancorporation, Inc. is an Alabama state-chartered bank that is a member of the Federal Reserve System and has operated continuously since 1907. Both the Company and the Bank are headquartered in Auburn, Alabama. The Bank conducts its business in East Alabama, including Lee County and surrounding areas. The Bank operates eight full-service branches in Auburn, Opelika, Valley and Notasulga, Alabama.  The Bank also operates loan production offices in Auburn and Phenix City, Alabama.