Palerang Financial Services Ltd‚ operators of Braidwood & Bungendore Bendigo Community Bank® branches has announced it will issue its first dividend payment to shareholders this November.
An unfranked dividend of five cents per share will be paid to shareholders of the company as at 31 October.
Chairman Noel Wisbey said‚ “The Board appreciates the patience of shareholders through this period of consolidation of Palerang Financial Services and is proud to be able to reward their support with this initial dividend payment at this stage of the company’s growth.”
The company first started trading in September 2002 with the opening of the Braidwood Community Bank® Branch and four years later in July 2006 the Bungendore Community Bank® Branch was established.
“Both branches are now trading strongly and Palerang Financial Services is better positioned to pay dividends to shareholders and support community projects‚” Mr Wisbey said.
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