ACNB Corporation Increases Quarterly Cash Dividend

GETTYSBURG, Pa., Oct. 19, 2023 (GLOBE NEWSWIRE) -- ACNB Corporation (NASDAQ: ACNB), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced today that the Board of Directors approved and declared a regular quarterly cash dividend of $0.30 per share of ACNB Corporation common stock payable on December 15, 2023, to shareholders of record as of December 1, 2023. This per share amount reflects a 7.1% increase, or $0.02, over the prior quarter’s cash dividend of $0.28 per share of common stock. This action marks the Corporation’s 164th consecutive quarterly cash dividend to shareholders since its formation in 1982.

With this fourth quarter dividend, the regular quarterly cash dividends paid to shareholders for the year of 2023 will total $1.14 per common share. This per share amount will result in a total of more than $9.6 million paid to shareholders for 2023. In comparison to a year ago, ACNB Corporation paid a total of $1.06 per common share in 2022 and an aggregate of more than $9.1 million during the same period. Over the past six years, the annual amount of dividends paid per share of common stock has increased 42.5% from $0.80 in 2017 to $1.14 in 2023.

Speaking on behalf of the Corporation, James P. Helt, President & Chief Executive Officer, stated, “In continuing ACNB Corporation’s long-standing history of providing a quarterly cash dividend, the Board of Directors voted to increase the quarterly cash dividend to $0.30 per common share. This action reflects our ongoing and long-term commitment to maximizing shareholder value by returning profits through the form of a sustainable and growing dividend. Providing a competitive return on the investment of the Corporation’s shareholders is fundamental and clearly evidenced by our solid quarterly dividend payments over a history of decades. This increase is founded on ACNB Corporation’s strong 2023 financial performance and capital position.”

Mr. Helt continued, “As we approach year-end 2023, ACNB Corporation remains dedicated to executing on its strategic plan of robust capital allocation while maintaining a strong operational focus on sustained profitability, credit quality, and customer relationship enhancement. At ACNB Corporation, our vision is to be the independent financial services provider of choice in the communities served by building relationships and finding solutions. Our staff members at ACNB Bank and ACNB Insurance Services, Inc. continue to embrace this vision every day for the benefit of our customers and shareholders.”