MILLERSBURG, Ohio - CSB Bancorp, Inc. (OTC Pink: CSBB) has announced a slight increase in its quarterly cash dividend, with a $0.01 rise to $0.40 per share, according to a recent statement from the company. This new dividend is scheduled to be paid on September 17, 2024, to shareholders who are on record as of September 3, 2024.
The financial holding company, based in Millersburg, Ohio, reported assets totaling approximately $1.2 billion as of June 30, 2024. CSB Bancorp operates primarily through its subsidiary, The Commercial and Savings Bank, which provides a comprehensive suite of banking and financial services. The bank serves customers with sixteen banking centers spread across Holmes, Stark, Tuscarawas, and Wayne counties, and it maintains Trust offices in Millersburg, North Canton, and Wooster, Ohio, as well as a loan production office in Medina, Ohio.
The announcement of the dividend increase is a part of the company's regular financial activities and is a signal of its financial health and commitment to returning value to its shareholders. Dividend payments are a way for companies to distribute a portion of their earnings to shareholders, and the slight increase in CSB Bancorp's dividend may be seen as a positive indicator by investors.
The information regarding the dividend declaration is based on a press release statement from CSB Bancorp, Inc. Investors in the company or those interested in its financial activities can find the company online for more details about its services and performance.
InvestingPro Insights
As CSB Bancorp, Inc. (OTC Pink: CSBB) demonstrates its commitment to shareholders with a dividend increase, investors may be curious about the company's broader financial health and market position. According to InvestingPro data, CSB Bancorp has a market capitalization of $101.63 million, with a price-to-earnings (P/E) ratio of 8.69, reflecting a valuation that may be attractive to value investors. The company's share price is also trading near its 52-week low, which might indicate a potential entry point for those looking to capitalize on future growth or recovery.
However, it's important to note that analysts are anticipating a sales decline in the current year, with revenue growth reported at -8.92% over the last twelve months as of Q2 2024. This could reflect a challenging environment for the banking industry or company-specific headwinds. Additionally, CSB Bancorp's gross profit margins have been characterized as weak, which may require close monitoring by investors.
InvestingPro Tips for CSB Bancorp highlight that the company is a prominent player in the Banks industry and is expected to be profitable this year, with a positive return on assets of 1.01%. For investors seeking a deeper dive into CSB Bancorp's financials and strategic positioning, InvestingPro offers additional insights, with a total of 10 tips available for those looking to make informed investment decisions. The platform's fair value estimate for CSB Bancorp stands at $43.07, suggesting that the stock might be undervalued at its current trading price.
For investors interested in CSB Bancorp's potential and future outlook, additional InvestingPro Tips can be found at InvestingPro CSBB, offering a comprehensive analysis to help guide investment strategies.
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