The Dime Bank Declares Cash Dividend

On December 21, 2023, the Board of Directors of Dimeco, Inc. (OTCQX: DIMC) declared a dividend of $0.40 per share. This dividend is an increase of $0.02 from the dividend declared in September 2023, bringing dividends to $1.54 per share, or $.08 greater than dividends declared in 2022.

A dividend of $.40 per share produces a yield of 4.60% based on the December 21, 2023 market value of $33.50 per share.

Dividends are payable to shareholders of record on January 2, 2024. The dividends will be paid on January 25, 2024, the anticipated date to release earnings for the year ended December 31, 2023.

President and Chief Executive Officer Peter Bochnovich commented, “At Dimeco, we hold our shareholders in high regard and increasing the dividend is a way to show our appreciation. We thank our shareholders and customers for their continued support, and we wish everyone a prosperous 2024.”

Dimeco, Inc. reported third quarter 2023 assets of $986 million, loans of $710 million and deposits of $785 million. Dimeco, Inc. is the holding company of The Dime Bank, a full-service financial institution serving Northeast Pennsylvania. 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.