Hawthorn Bancshares Announces Cash and Stock Dividend Lower Cash Payout Will Further Strengthen Capital Position
LEE’S SUMMIT, Mo. — May 29, 2009 —The Board of Directors of Hawthorn Bancshares Inc. (NASDAQ: HWBK) has approved a quarterly cash dividend of 11 cents per common share, payable July 1, 2009 to shareholders of record at the close of business on June 15, 2009. This is a reduction from 21 cents per share paid in the prior quarter. In addition, the Board approved a special stock dividend of four percent, also payable July 1, 2009 to common shareholders of record at the close of business on June 15, 2009.
“We are committed to continuing our long record of paying cash dividends,” said Chairman & CEO James E. Smith. “At the same time, under the current financial environment we are taking steps to further strengthen our capital position. This reduction in the cash dividend will preserve approximately $414,000 per quarter to our capital.
“Hawthorn Bancshares is a strong, well-capitalized, growing community bank. By declaring this special stock dividend, we offer stockholders an additional opportunity to directly share in the bank’s continued growth.”
About Hawthorn Bancshares
Hawthorn Bancshares, Inc., a financial-bank holding company headquartered in Lee’s Summit, Missouri, is the parent company of Hawthorn Bank of Jefferson City with locations in Lee’s Summit, Springfield, Branson, Independence, Raymore, Columbia, Clinton, Windsor, Collins, Osceola, Warsaw, Belton, Drexel, Harrisonville, California, Tipton and St. Robert.
Statements made in this press release that suggest Hawthorn Bancshares’ or management’s intentions, hopes, beliefs, expectations, or predictions of the future include “forward-looking statements” within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those projected in such forward-looking statements is contained from time to time in the company’s quarterly and annual reports filed with the Securities and Exchange Commission.
We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our Cookie Policy for more information.
